Renaissance Capital logo

Chinese electrical component platform ICZOOM files for a $37 million US IPO

August 23, 2021

ICZOOM Group, a Chinese provider of electrical components and services to SMEs, filed on Monday with the SEC to raise up to $37 million in an initial public offering.

ICZOOM operates an online B2B electronics trading platform primarily for small and medium enterprises in China. Operating as Pai Ming Shenzhen, its website offers semiconductor products like integrated circuits, discretes, and passive components, as well as other electronic components like electromechanical, maintenance, and design tools. The company purchased from 595 electronics suppliers and sold to 702 customers in the six months ending December 31, 2020. 

The Shenzhen, China-based company was founded in 2012 and booked $213 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol IZM. ICZOOM Group filed confidentially on April 1, 2021. Prime Number Capital is the sole bookrunner on the deal. No pricing terms were disclosed.