DLA Piper advises Autozi Internet Technology (Global) Ltd. on US IPO and Nasdaq listing

DLA Piper has advised Autozi Internet Technology (Global) Ltd. (Autozi), a leading lifecycle automotive service provider in China, on its initial public offering of 2.5 million Class A ordinary shares at a price of USD4.00 per share (the Offering). Trading began on the Nasdaq Global Market on Wednesday 28 August, under the symbol "AZI" and the Offering closed on Thursday 29 August.

Kingswood Capital Partners acted as the underwriter. In connection with the Offering, Autozi also granted the underwriter a 45-day option to purchase up to an additional 375,000 Class A ordinary shares at the initial public offering price.

Founded in 2010, Autozi provides high-quality, affordable and professional one-stop automotive products and services online and in stores throughout China. Its business segments include new car sales, auto parts and auto accessories sales, as well as automotive insurance related services. By leveraging its online supply chain cloud platform, SaaS platforms, and its network of multiple-brand-service (MBS) stores, Autozi has established a successful ecosystem of lifecycle automotive services by connecting manufacturers and insurance companies with MBS stores and automotive owners.

The transaction was led by US securities partner Yang Ge, with support from senior consultant Olivia Lai, consultant Claire Lai and legal assistant Kristin Shao. Yang, Olivia, Claire and Kristin are all members of the corporate team and based in Beijing.

Commenting on the transaction Yang said "We have a strong track record of representing issuers in successful initial public offerings and listings in the United States, and this is yet another great example. Autozi is one of the most cutting-edge companies in China's fast-growing lifecycle automotive service industry and we look forward to seeing how it evolves."

DLA Piper has supported a range of Chinese clients on US IPOs and de-SPAC transactions this year, including Lucas GC Limited, Global IBO Group, Lakeside Holding Ltd, and Youlife International Holdings.