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.
