CNFinance Holdings Limited (CNF) expects to raise $52 million in an initial public offering on Wednesday, November 7th, IPO Scoop reports. The company plans to issue 6,500,000 shares at a price of $7.50-$8.50 per share.
In the last twelve months, CNFinance Holdings Limited generated $595.4 million in revenue and $104.5 million in net income. CNFinance Holdings Limited has a market-cap of $544 million.
Roth Capital Partners and Shenwan Hongyuan Securities acted as the underwriters for the IPO.
CNFinance Holdings Limited provided the following description of their company for its IPO: ” We are a leading home equity loan service provider in China with established business infrastructure. According to the Oliver Wyman report, we are the second largest home equity loan service provider among non-traditional financial institutions in China in terms of outstanding loan principal as of December 31, 2017. We facilitate loans by connecting MSE owners with our funding partners. With more than ten years of experience in the loan service industry, we have established a national network of 73 branches and sub-branches in over 40 cities in China. The extensive local knowledge and resources we have acquired while building our business infrastructure distinguish us from other market players. “.
CNFinance Holdings Limited was founded in 1999 and has 4250 employees. The company is located at 44/F, Tower G, No.16 Zhujiang Dong Road, Tianhe District, Guangzhou City, Guangdong Province 510620, People’s Republic of China and can be reached via phone at +86 (020) 6231-6688 or on the web at http://www.cashchina.cn.
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