China Internet Nationwide Financial Services (NASDAQ: CIFS), on its second day as a NASDAQ-listed company, is trading at $11.93 on volume of just over 70,000. The provider of financial advisory services to the underserved small-to-medium sized enterprises in China yesterday ended its first day of trading up 23% at $12.30 per share. Boustead Securities, LLC served as the company’s lead underwriter and completed its IPO of 2,023,146 of CIFS’s ordinary shares priced at $10 per share for a total of $20,231,460 before underwriting discounts, commissions and offering expenses. “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,” CIFS chairman and CEO Jianxin Lin stated in the news release.
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About China Internet Nationwide Financial Services Inc.
Incorporated in 2014 and headquartered in Beijing, China Internet Nationwide Financial Services Inc. 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.
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