Chinese B2B e-commerce platform ICZoom files for $25M US IPO
ICZoom Group ( IZM ), which operates a B2B ecommerce platform in China for electronic component products, has filed to raise approximately $25M through a US initial public offering.
ICZoom, a holding company based in the Cayman Islands that operates in China through subsidiaries, plans to offer 4.4M shares at between $5 to $6 per share. The deal is expected to raise net proceeds of $22.6M, based on an IPO price of $5.70 per share.
The company has filed to list its shares on Nasdaq under the symbol IZM. Prime Number Capital and Shengang Securities are serving as lead bookrunners.
ICZoom sells electronic component products through its website iczoomex.com and offers services such as temporary warehousing and customs clearance. The company caters to small and mid-sized businesses in China.
For more on ICZoom, check out SA contributor Donovan Jones’s “ICZoom Group Readies $24 Million US IPO” .
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