IPOs

Chinese auto retailer Jiuzi Holdings files for a $31 million US IPO

Jiuzi Holdings, a new energy vehicle retailer in China, filed on Wednesday with the SEC to raise up to $31 million in an initial public offering.

The company franchises and operates retail stores under brand name "Jiuzi", which sell new energy vehicles (NEV) in third-fourth tier cities in China. It currently has 18 operating franchise stores and one company-owned store in China.

The Hangzhou, China-based company was founded in 2017 and booked $5 million in revenue for the 12 months ended April 30, 2020. It plans to list on the Nasdaq under the symbol JZXN. Jiuzi Holdings filed confidentially on July 8, 2020. Boustead Securities is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Chinese auto retailer Jiuzi Holdings files for a $31 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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