JAKARTA – Chinese insurance company Yuanbao is set to launch an Initial Public Offering (IPO) in the United States (US) with a targeted valuation of USD 676.3 million.

This comes despite several companies having delayed their IPO plans following President Donald Trump’s announcement of reciprocal tariffs in early April.

“Companies planning IPOs now face greater challenges,” said Philipp Suess, Head of Equity at Goldman Sachs, as quoted by Reuters recently.

Nonetheless, a number of Yuanbao’s existing investors have expressed interest in participating in the IPO, by subscribing to shares to be listed in the US.

Yuanbao has appointed Goldman Sachs, Citigroup, and CICC to manage the IPO. Based on the proposed offering price, Yuanbao could raise up to USD 30 million from the corporate action. (KR/ZH)