Autozi Internet and JBDI Holdings made their trading debuts this week, with the former opening at $3.90 on Thursday and the latter at $5 the day before.
LATEST IPOS AND DIRECT LISTINGS:
Autozi Internet (AZI) opened on August 28 at $3.90. The company had priced its initial public offering of 2.5M shares at a public offering price of $4 per share. Autozi provides “one-stop automotive products and services through online and offline channels nationwide.”
JBDI Holdings (JBDI) opened on August 27 at $5. The provider of environmentally friendly and efficient reconditioning and recycling services for drums and containers in Singapore and Southeast Asia had announced the pricing of its initial public offering of an aggregate 2.25M ordinary shares at a public offering price of $5.00 per share for total gross proceeds of $11.25M. The company is offering 1.75M ordinary shares and the selling shareholders are offering 500,000 ordinary shares.
WORK Medical (WOK) opened on August 23 at $3.60. The supplier of medical devices in China priced its initial public offering of its 2M ordinary shares at a public offering price of $4.00 per ordinary share.
RECENT SPAC IPOS: Black Spade Acquisition II (BSII) opened on August 28 at $9.93. The blank check company believes the entertainment, lifestyle and technology industries, “particularly those that are major beneficiaries of artificial intelligence, provide ample business combination opportunities.”
PERFORMANCE:
- Autozi Internet – $3;
- JBDI Holdings – $12.37;
- WORK Medical – $4.81.
UPCOMING IPOS: Upcoming IPO and direct listings expected include Health In Tech (HIT), Yi Yue Digital (YYDT), YXT.com (YXT), Solera (SLRA), ShipBob, and StubHub.
Click here to see upcoming IPO calendar on TipRanks.
Health In Tech, Inc. has filed with the SEC for a firm commitment initial public offering of shares of Class A Common Stock and anticipates that the initial public offering price of its shares will be between $4.00 and $5.00 per share. The company has applied to have its Class A Common Stock listed on the Nasdaq Capital Market under the symbol “HIT.” Its prospectus states: “Health in Tech is an insurance technology platform company, which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs.”
Yi Yue Digital Technology has filed with the SEC for an initial public offering of ordinary shares and applied to list its ordinary shares on the Nasdaq Capital Market under the symbol “YYDT”. The prospectus states, “Shenzhen Yi Yue Digital Technology Co., Ltd is a Software as a Service – SaaS – digital technology provider focusing on the specific field of beauty industry. The Company is founded in September 2021, headquartered in the city of Shenzhen, and it has 8 branches in mainland China with the number of employees is more than 200… The Company is committed to supporting beauty industry and health institutions to build scientific and efficient management through SaaS plus supply chain service. The Company helps SaaS users maintain sustainable profitable operation, by relying on AI and big data technology. The service provided by the Company can help connect suppliers and customers work together, forming a closed loop of Online to Offline – O2O – e-commerce transactions and services.”
YXT.com has filed with the SEC for an initial public offering of American depositary shares, or ADSs. The prospectus states in part, “We are a leader and disruptor of the digital corporate learning industry in China, a market with massive rigid-demand and a total size of RMB126.0 billion in 2023, according to Frost & Sullivan. We have innovated a SaaS model that integrates software and content, effectively assisting customers in the digital transformation of corporate learning. According to Frost & Sullivan, we are the largest digital corporate learning solution provider in China in terms of total revenue, subscription revenue and number of subscription customers in 2023. With our software, we help customers efficiently deploy cloud-based learning platforms at scale. We also offer a broad range of high-quality content, covering the entire corporate learning process of our customers.”
Solera has filed for an initial public offering on the New York Stock Exchange. The company says it is a global provider of software-as-a-service solutions to the vehicle lifecycle ecosystem, providing asset intelligence. For the 2024 fiscal year, 90% of its total revenues were recurring. In 2024 fiscal year, Solera generated revenue of $2.4B, operating income of $591.7M, operating cash flow of $203.9M, a net loss of ($486.3M), adjusted EBITDA of $1.0B and free cash flow of $93.5M.
ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould report, citing people familiar with the situation. The Chicago-based ecommerce fulfillment service provider has also chosen Citigorup (C) as part of the syndicate, the authors say. An initial public offering could occur as soon as later this year and could value the company at $4B, the authors note.
OTHER IPO NEWS: The leading contender to buy Everton Football Club is preparing to launch within days a plan to take his sports and technology holding company public at a valuation of over $2B, Sky News’ Mark Kleinman reports. Sky News has learnt that John Textor, an American businessman, is to file documents with US regulators that will see Eagle Football Holdings become a U.S.-listed company.
Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
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