China New Energy Vehicle Retailer Jiuzi Holdings Files for $31 Million US IPO
Jiuzi Holdings Inc, a new energy vehicle retailer in China, has filed Form F-1 Registration Statement on August 26, 2020 with U.S Securities and Exchange Commission to raise up to $31 million IPO. Pricing terms are yet to announce.
The China company sell new energy vehicles, or NEVs, which mostly are battery-operated electric vehicles, and others are plug-in electric vehicles in third-fourth tier cities in China. The company has 18 operating franchise stores and one company-owned store in China as of the date of its prospectus.
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 Capital Market under the symbol “JZXN.” Boustead Securities is the underwriter of the IPO.
The company engages Maples and Calder LLP as US Securities Counsel, and WWC, P.C as Independent Auditor.
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