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Chinese electrical component provider ICZOOM sets terms for $24 million US IPO

September 17, 2021

ICZOOM Group, which provides electrical components and services to SMEs in China, announced terms for its IPO on Friday.

The Shenzhen, China-based company plans to raise $24 million by offering 4.4 million shares at a price range of $5 to $6. At the midpoint of the proposed range, ICZOOM Group would command a market value of $121 million.

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. 

ICZOOM Group 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. Prime Number Capital and Shengang Securities are the joint bookrunners on the deal.