Waterdrop, which operates a health insurance distribution an...

Waterdrop, which operates a health insurance distribution and crowd-funding platform in China, starts the IPO subscription on May 1 and will go public on NYSE on May 7.

The company plans to raise $330 million by offering 30 million ADSs at a price range of $10 to $12. At the midpoint of the proposed range, Waterdrop would command a fully diluted market value of $4.6 billion.