The firm is looking to raise up to $360million and is expected to trade on Nasdaq under the ticker symbol “QZAM”
QZ Asset Management has set terms for its initial public offering (IPO), as the Chinese company looks to raise up to $360 million. The company is offering 60 million ordinary shares in the IPO, which is expected to price between $4 to $6 per share, on the Nasdaq exchange under the ticker symbol “QZAM”.
“We have been working towards going public for a while now and we are very pleased with the progress so far. An IPO listing will give us the resources and impetus to take BDAI to the next level, with development plans already underway and the extra funding will allow QZ to pursue more ambitious endeavors such as quantum integration with artificial intelligence,” said Blake Yeung, CEO of QZ Asset Management.
The company states that the IPO proceeds will be put towards further research and development of its proprietary BDAI technology, and upgrade existing infrastructure while providing funds for market expansion, which includes plans for a state-of-the-art research and data center in Silicon Valley. Earlier this year, QZ announced a successful closing of a $100m private placement round and is expected to close another pre-IPO placement round before its expected Nasdaq listing around August 2023.
About QZ Asset Management
QZ Asset Management was founded in 2012 and is headquartered in Guangzhou with additional offices worldwide, led by a team of experienced investment professionals and analysts. The company is able to deliver 10 years of excellent trading records using proprietary BDAI (Big Data Artificial Intelligence) trading technology that is based on highly advanced real-time market intelligence and big data analytics.
Name: Voong Kuang Jie
Email: Send Email
Organization: QZ Asset Management
Release ID: 89090963
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