BEIJING, Aug. 8, 2017 /PRNewswire/ -- China Internet Nationwide Financial Services Inc. ("CIFS" or the "Company") (NASDAQ: CIFS), a provider of financial advisory services to the underserved small-to-medium sized enterprises in China, today announced that its ordinary shares will begin trading today on the NASDAQ Global Market under the symbol "CIFS". The Company completed the initial public offering ("IPO") of 2,023,146 of its ordinary shares at a price to the public of $10.00 per share for a total of $20,231,460 before underwriting discounts, commissions and offering expenses on July 28, 2017. Boustead Securities, LLC acted as the Lead Underwriter for the offering. Network 1 Financial Securities, Inc. participated as a Selected Dealer.
Jianxin Lin, Chairman and Chief Executive Officer of CIFS, commented, "We are honored and humbled to become an official member of the NASDAQ family. As we celebrate this milestone today, we offer our congratulations to our CIFS team for their dedication and hard work and thanks to our customers, partners and investors for their unwavering support over the years. Looking ahead, as we continue to provide even more innovative financial solutions to the largely ignored and vastly underserved SMEs in China, we look forward to extending our winning streak of achieving high top- and bottom-line growth in years to come."
Dan McClory, Head of China and Equity Capital Markets at Boustead Securities, added, "Congratulations to Chairman Jianxin Lin and his team at CIFS for successfully completing their IPO and achieving this significant milestone. We look forward to CIFS's continued growth in their financial services business across China."
About China Internet Nationwide Financial Services Inc.
Incorporated in 2014 and headquartered in Beijing, China Internet Nationwide Financial Services Inc. ("CIFS" or the "Company") provides financial advisory services, including commercial payment advisory, intermediary bank loan advisory, and international corporate financing advisory, to meet the financing and capital needs of its clients, comprised largely of small-to-medium sized enterprises ("SMEs"). The Company also made direct loans to certain qualified borrowers.
About Boustead Securities, LLC
Boustead Securities, LLC ("Boustead") is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead's core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead's team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, visit http://www.boustead1828.com/.
Safe Harbor Statement
This press release may contain information about CIFS's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. CIFS encourages you to review other factors that may affect its future results in CIFS's registration statement and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
At the Company:
Shirley Sun, Chief Financial Officer
Tony Tian, CFA
Weitian Group LLC
Boustead Securities, LLC
Dan McClory, Head of Equity Capital Markets and China