Huize Holding, the operator of an online insurance intermediation platform in China, plans to raise about $48 million after pricing its US initial public offering (IPO) at a range of $9.40 to $11.40, according to its latest filing.
The new target amount is way lower than the $150 million figure that Huize indicated when it first filed its IPO prospectus in September 2019. At the midpoint of the proposed range, Huize stands to raise $48 million by offering 4.7 million shares and would command a fully diluted market value of $561 million.
