Investing.com -- Today, Yuanbao Inc , a China-based online distributor of insurance policies, started trading at $21.66 per share. This comes after the company’s initial public offering (IPO) priced at $15.00 per share. Yuanbao is now listed on the Nasdaq exchange, trading under the ticker symbol (NASDAQ: YB ).

The company raised $30 million through the offering of 2 million American Depositary Shares (ADSs) at the high end of its range of $13 to $15 per share. In addition, Yuanbao had plans for a concurrent private placement to raise $1 million with Qiming Venture Partners.

With the IPO pricing, Yuanbao commanded a fully diluted market value of $732 million. This represents a 7% increase over what was initially expected.

Goldman Sachs (Asia), Citi, and China International Capital Corporation (CICC) acted as joint bookrunners on the deal, helping to manage the distribution of the securities.

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