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Chinese business services provider U-BX Technology prices US IPO at $5

March 28, 2024

U-BX Technology, which provides a variety of services to insurance companies in China, raised $10 million by offering 2 million shares at $5, as expected.

U-BX Technology's business consists of digital promotion services, risk assessment services, and value-added bundled benefits. Utilizing its proprietary algorithmic model, the company is able to generate individualized risk reports based on the vehicle brand, model, travel area, and vehicle age. Its client base consists of more than 300 city-level property and auto insurance carriers nationwide, along with approximately 200,000 insurance brokers that use our products and services to conduct business on a daily basis.

U-BX Technology plans to list on the Nasdaq under the symbol UBXG. EF Hutton acted as sole bookrunner on the deal.