Chinese Auto Insurer Plans U.S. Listing With Blank Check Company

Cheche Technology Inc., a money-losing Chinese auto insurtech firm, plans to float on the Nasdaq via a merger with a special purpose acquisition company (SPAC) at a pre-money value of $760 million.

The Tencent Holdings-backed platform, which counts some of China’s largest insurers among its partners, announced on Monday that it had reached the deal with Prime Impact Acquisition I, a so-called blank check company that is already trading in the U.S.