China's CNFinance Holdings prices US IPO at $7.50 low end

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CNFinance Holdings, a leading provider of home equity loans in China, raised $49 million by offering 6.5 million ADSs at $7.50, the low end of the range of $7.50 to $8.50. At that price, CNFinance commands a market value of $567 million. In its IPO filing, the company disclosed that outside investors had indicated an interest in buying up to $60 million of the IPO (123% of the deal). 

CNFinance plans to list on the NYSE under the symbol CNF. Roth Capital acted as lead manager on the deal.

The article China's CNFinance Holdings prices US IPO at $7.50 low end originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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