Los Angeles, California, August 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, began trading its ordinary shares today on the NASDAQ Global Market under the symbol “CIFS.” CIFS ended its first day of trading on Nasdaq with the Company’s ordinary shares up 23% at $12.30/share. Boustead Securities, LLC (“Boustead”) was Lead Underwriter and completed the initial public offering (“IPO”) of 2,023,146 of CIFS’s 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.
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“Congratulations to Chairman Jianxin Lin and his team at CIFS for successfully completing their Nasdaq IPO and achieving this significant milestone. We look forward to CIFS’s continued growth in their financial services business across China,” said Dan McClory, Head of China and Equity Capital Markets at Boustead Securities.
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:
Dan McClory, Head of Equity Capital Markets and Head of China