NetworkNewsBreaks – Jiayin Group Inc. (NASDAQ: JFIN) Closes $42.3 Million IPO

May 22, 2019 10:55:49

Jiayin Group (NASDAQ: JFIN) has closed its initial public offering of 4,025,000 American Depositary Shares (“ADS”), including an additional 525,000 ADSs per the full exercise of the over-allotment option granted to the underwriters. The offering resulted in gross proceeds for Jiayin Group of approximately $42.3 million, with each ADS representing four of its Class A ordinary shares, sold at the public offering price of $10.50 per ADS. The ADSs began trading on the Nasdaq Stock Market under the “JFIN” ticker symbol on May 10, 2019. ROTH Capital Partners acted as sole book-running manager for the offering.

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About Jiayin Group Inc.

Jiayin Group Inc. is an online individual finance marketplace in China committed to facilitating effective, transparent, secure and fast connections between investors and borrowers, whose needs are under served by traditional financial institutions. The origin of the business of the company can be traced back to 2011. The company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers.

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