Davis Polk advised CNFinance Holdings Limited on its SEC-registered initial public offering of 6,925,000 American Depositary Shares, including the partial exercise of the underwriters’ option to purchase 425,000 American Depositary Shares, for an aggregate price to the public of $51.9 million. Each ADS represents twenty ordinary shares of CNFinance Holdings Limited. The ADSs are listed on the NYSE under the symbol “CNF.”
CNFinance Holdings Limited is a leading home equity loan service provider in China with more than ten years of experience in the loan service industry. CNFinance Holdings Limited facilitates home equity loans by connecting micro- and small-enterprise owners in China with its funding partners. CNFinance Holdings Limited has a national network of 75 branches and sub-branches in over 40 cities in China.
The Davis Polk corporate team included partners James C. Lin and Li He, counsel Bingqing Pan and registered foreign lawyers Kevin Zhang and Jennifer (Yujia) Jiang. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.