YSX Tech Co., Ltd. (YSXT), a Chinese InsurTech company, priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$6.00 price range – and sold 1.25 million shares – to raise $5.0 million on Tuesday night, Dec. 17, 2024. YSX Tech’s stock opened at $4.05 – up 5 cents from its IPO price – at 10:45 a.m. EST today – Wednesday, Dec. 18, 2024 – on the NASDAQ on volume of 156,627 shares, according to NASDAQ.
Kingswood Capital Partners served as the sole book-runner.
YSX Tech Co., Ltd., based in Guangzhou, China, is a holding company that provides – through the YSX Operating Companies – a suite of comprehensive business solutions to insurance companies and brokerages in China. The YSX Operating Companies specialize in auto insurance aftermarket value-added services, software development and information technology services, as well as customer development services and other customized services. The holding company is incorporated in the Cayman Islands.
For fiscal year 2023, the YSX Operating Companies served 52 clients, including 26 insurance companies and 10 insurance brokerages. Some of its customers are well-known names in China, including Ping An Property Insurance Co., Ltd. and CPIC (China Pacific Insurance Group).
The company is profitable.
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