DLA Piper Adivised Autozi Internet Technology On US IPO And Nasdaq Debut
DLA Piper Adivised Autozi Internet Technology On US IPO And Nasdaq Debut
DLA Piper has advised Autozi Internet Technology (Global) Ltd. (Autozi), a prominent lifecycle automotive service provider in China, on its successful initial public offering (IPO) of 2.5 million Class A ordinary shares, priced at USD 4.00 per share. The shares began trading on the Nasdaq Global Market on Wednesday, August 28, under the ticker symbol AZI, with the Offering closing the following day, August 29.
Kingswood Capital Partners served as the underwriter for the Offering. Autozi also provided the underwriter with a 45-day option to purchase up to an additional 375,000 Class A ordinary shares at the initial offering price.
Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable automotive products and services across China, both online and in physical stores. Its operations encompass new car sales, auto parts and accessories, as well as automotive insurance services. Utilizing its online supply chain cloud platform, SaaS solutions, and a network of multi-brand service (MBS) stores, Autozi has built a robust ecosystem that connects manufacturers, insurance companies, MBS stores, and automotive owners.
The transaction was led by US securities Partner Yang Ge, supported by Senior Consultant Olivia Lai, Consultant Claire Lai, and legal assistant Kristin Shao, all members of DLA Piper's corporate team based in Beijing.
Yang Ge commented on the transaction, stating, "We have a strong track record of representing issuers in successful IPOs and listings in the United States, and this is another excellent example. Autozi is at the forefront of China's rapidly growing lifecycle automotive service industry, and we are excited to see its continued evolution."
