QMSK Technology, a Chinese provider of auto insurance aftermarket services, raised the proposed deal size for its upcoming IPO on Friday.
The Qingdao, China-based company now plans to raise $31 million by offering 6.3 million shares at a price range of $4 to $6. The company had previously filed to offer 1.5 million shares at the same price range. At the revised deal size, QMSK Technology will raise 317% more in proceeds than previously anticipated.
Through its operating entities, QMSK provides comprehensive business solutions to enterprise customers in the insurance industry, mainly auto insurance third-party service providers and insurance companies in China. The company specializes in providing auto insurance aftermarket services, primarily insurance risk assessment services and value-added services, such as vehicle safety inspection services and vehicle maintenance services. For the year ended March 31, 2025, QMSK provided services to a total of 14 enterprise customers.
QMSK Technology was founded in 2013 and booked $65 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol QMSK. D. Boral Capital is the sole bookrunner on the deal.
