GUANGZHOU, China, Nov. 6, 2018 /PRNewswire/ -- CNFinance Holdings
Limited (NYSE: CNF) ("CNFinance" or the "Company"), a leading
home equity loan service provider in China, today announced that it has priced its
initial public offering of 6,500,000 American Depositary Shares
("ADSs"), each representing 20 ordinary shares,
at US$7.50 per ADS for a total offering size
of US$48.75 million, assuming the underwriters do not exercise
their option to purchase additional ADSs. The ADSs have been
approved for listing on the New York Stock Exchange and are
expected to begin trading tomorrow, November
7, 2018 (New York time)
under the ticker symbol "CNF."
The underwriters have been granted an option, exercisable within
30 days from the date of the final prospectus, to purchase up to
975,000 additional ADSs at the initial public offering price
less the underwriting discount.
Roth Capital Partners is acting as sole book running manager for
the offering and Shenwan Hongyuan Securities (H.K.) Limited is
acting as co-manager for the offering.
CNFinance's registration statement relating to the offering has
been filed with, and declared effective by, the U.S. Securities and
Exchange Commission. This press release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a
prospectus forming a part of the effective registration statement.
Copies of the preliminary prospectus supplement and accompanying
base prospectus relating to this offering may be obtained from Roth
Capital Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by
accessing the SEC's website, www.sec.gov.
About CNFinance Holdings Limited
CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the
"Company) is a leading home equity loan service provider in
China. CNFinance facilitates loans
by connecting micro- and small-enterprise ("MSE") owners with its
funding partners. The Company's primary target borrower segment is
MSE owners who own real properties in Tier 1 and Tier 2 cities in
China. The loans CNFinance
facilitates are primarily funded through a trust lending model with
its trust company partners who are well-established with sufficient
funding sources and have licenses to engage in lending business
nationwide. The Company's risk mitigation mechanism is embedded in
the design of its loan products, supported by an integrated online
and offline process focusing on risks of both borrowers and
collateral and further enhanced by effective post-loan management
procedures.
Safe Harbor / Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the proposed public offering and the intended use of
proceeds from the offering. The offering is subject to market and
other conditions and there can be no assurance as to whether or
when the offering may be completed or as to the actual size or
terms of the offering. These forward-looking statements are subject
to risks and uncertainties that may cause actual results to differ
materially, including market conditions, risks associated with the
cash requirements of our business and other risks detailed from
time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
For more information, please contact:
CNFinance
E-mail: ir@cashchina.cn
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE CNFinance Holdings Limited