China Driving Car Fortune (AZI.US) reapplies for IPO in the United States, with the pricing set at $4 per share.

Chinese company Zhichifu (AZI.US), which sells parallel imported cars and car parts in China, issued 2.5 million shares at a price of $4 per share (at the low end of the $4-5 range), raising $10 million. The company had previously withdrawn its application at the end of July and resubmitted its IPO application in early August. It is understood that Zhichifu provides car products and services in China through both online and offline channels. The company's business segments include new car sales (accounting for 65% of revenue in the 2023 fiscal year), mainly parallel imported cars; car parts and accessories sales (accounting for 32% of revenue in the 2023 fiscal year), mainly lubricants; and car insurance-related services (accounting for 3% of revenue in the 2023 fiscal year). Established in 2010, Zhichifu had revenues of $118 million for the 12 months ending March 31, 2024. The company plans to list on NASDAQ with the stock code "AZI." Kingswood Capital Markets is the sole bookrunner for this transaction.