Hywin Holdings Ltd, a third-party wealth management service provider, has filed Amendment No 1 to Form F-1 Registration Statement on March 12, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $46 million by offering 4.2 million shares at a price range of $10 to $12. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $321 million.
The company provides wealth management services, insurance brokerage services, asset management services and other services to their clients. The company is the largest distributor of real estate wealth management products in China in terms of 2019 transaction value, according to CIC.
The Shanghai, China-based company was founded in 2006 and booked $198 million in revenue for the 12 months ended June 30, 2020 (based on the exchange rate between RMB and USD as of 3/12/21). It plans to list on the Nasdaq Global Market under the symbol “HYW.” Network 1 Financial Securities and Valuable Capital are underwriters of the IPO.
The company engages Sidley Austin LLP as US Securities Counsel, and Marcum Bernstein & Pinchuk LLP as Independent Auditor.
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