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FY Financial Receives 11.4 Times Oversubscription in HKPO

Date: 2017-05-24
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 (22 May 2017, Hong Kong) FY Financial (Shenzhen) Co., Ltd. ("FY Financial" or the “Company"), a Shenzhen-based financial services company that provides equipment-based financial leasing, commercial factoring and advisory services to SMEs in the PRC, today announced the subscription results of its Public Offer Shares and Placing Shares (the “Share Offer”). The Company received valid applications for 102,442,000 Public Offer Shares, representing approximately 11.4 times of the Public Offer Shares initially available. The Company also received slight oversubscription for the Placing Shares initially available. The Sole Bookrunner, at its sole and absolute discretion, re-allocated a total number of 18,000,000 Offer Shares to the Public Offer from the Placing. After re-allocation, the number of Public Offer Shares is 26,984,000 and the valid applications for Public Offer Shares represent approximately 3.8 times of the Public Offer Shares. The Offer Price has been set at HK$1.31 per Offer Share.


The net proceeds raised from the Share Offer, after deduction of underwriting fees and commissions and other estimated expenses payable by the Company in connection with the Share Offer, are estimated to be approximately RMB79.3 million, while the offer size adjustment option is not exercised. Dealings in the H shares of the Company (the “H Shares”) on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited are expected to commence at 9:00 a.m. on Tuesday, 23 May 2017. The H Shares will be traded under the stock code 8452 and in board lots of 2,000 H Shares each.


Mr. Zhuang Wei, Chairman of FY Financial stated, “We are delighted to receive strong support from investors, which is a great vote of confidence in our business. We will continue to expand our finance leasing business and factoring operations portfolio, striving to excel in the industry and maximizing value for our investors and shareholders.”


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