Shares of Yuanbao (YB) topped $21 in their opening trade on the NASDAQ today – Wednesday, April 30, 2025 – after the small IPO was priced last night at $15.00 – the top of its range. Yuanbao, the parent of a Chinese online insurance company, priced 2.0 million American Depositary Shares (ADS) at $15.00 – the top of its $13.00-to-$15.00 price range – to raise $30.0 million on Tuesday night, April 29, 2025. Insiders – certain exiting primary shareholders – had indicated an interest in buying up to $17.0 million of stock in the IPO at the IPO price, according to the prospectus.
Yuanbao’s stock opened at $21.66 – up $6.66 from its $15.00 IPO price – at 11 a.m. EDT today – Wednesday, April 30 2025 – on NASDAQ on volume of 52,433 shares. At the closing bell, Yuanboa’s stock was at $15.96 – up 96 cents or 6.4 percent on NASDAQ volume of about 1 million shares.
Goldman Sachs (Asia), Citigroup and CICC served as the joint book-runners.
The word on the Street was that there was plenty of retail investor interest in this one. Allocations, though, were said to be doled out with an eye-dropper.
Beijing-based Yuanbao described itself as “a leading technology-driven online insurance distributor in the People’s Republic of China,” according to the prospectus.
“According to Frost & Sullivan, we were the largest independent insurance distributor in China’s personal life and accident & health (A&H) insurance market in terms of first-year premiums in 2023,” the prospectus said.
The company is profitable, according to financial statements in the prospectus.