Puyi, an independent wealth management services provider in China, raised $26 million by offering 4.3 million ADSs at $6.00. The company filed to offer between 4.0 and 6.7 million ADSs on a min-max, best-efforts basis. At pricing, Puyi commands a market cap of $362 million.
As a min-max, best-efforts offering, Puyi will not be included in Renaissance Capital's IPO stats.
Puyi filed a final prospectus on March 19 revealing that it priced its IPO at $6.00, but the company had not determined how many shares it sold in the offering until a press release on Wednesday night.
Puyi plans to list on the Nasdaq under the symbol PUYI and begin trading on Friday, March 29. Network 1 Financial Securities acted as lead manager on the deal.
