Hywin Holdings Ltd. Announces Closing of Initial Public Offering

Rhea-AI Summary

Hywin Holdings Ltd. (NASDAQ: HYW) has completed its initial public offering, successfully raising US$30 million by selling 3,000,000 American Depositary Shares at US$10.00 per ADS. Each ADS represents two Class A ordinary shares. The offering was managed by Network 1 Financial Securities Inc., Alexander Capital L.P., and Valuable Capital Limited. This IPO positions Hywin as a key player in the Chinese wealth management sector, where it holds a 7.5% market share as of 2019. The company primarily focuses on wealth management, insurance brokerage, and asset management.

Positive

• Hywin raised US$30 million from the IPO, enhancing its financial resources.
• The company holds a 7.5% market share in China's wealth management sector.
• The IPO increases Hywin's visibility and credibility in the financial market.

Negative

• None.

SHANGHAI, China, March 31, 2021 (GLOBE NEWSWIRE) -- Hywin Holdings Ltd. (“Hywin” or the “Company”) (NASDAQ: HYW), the third largest third-party wealth management service provider in China, today announced the closing of its previously announced initial public offering of 3,000,000 American Depositary Shares (the “ADSs”), at US$10.00 per ADS. Each ADS represents two Class A ordinary shares of the Company.

The Company raised a total of US$30 million in gross proceeds from the IPO, before deducting underwriting discounts and commissions as well as other estimated offering expenses.

Network 1 Financial Securities Inc., Alexander Capital L.P. and Valuable Capital Limited are acting as bookrunners of the offering.

A registration statement related to these securities was filed with the United States Securities and Exchange Commission and became effective on March 25, 2021. This offering is being made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting Network 1 Financial Securities Inc. at 2 Bridge Avenue, Suite 241, Red Bank, NJ 07701, by email: jsun@netw1.com, or by telephone: +1 (800)-886-7007.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Hywin Holdings Ltd.

Hywin (NASDAQ: HYW) is the third largest third-party wealth management service provider in China, with a 7.5% market share in terms of 2019 transaction value, according to CIC. Our primary services are wealth management, insurance brokerage, and asset management. Wealth management is currently our largest business segment, in which our onshore and offshore solution platform serves clients across generations. This unit markets and distributes investment products and funds that raise capital both privately and through public offerings. For more information, please visit https://ir.hywinwealth.com/

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipate,” “estimate,” “plan,” “project,” “potential,” “continue,” “ongoing,” “expect,” “aim,” “believe,” “intend,” “may,” “should,” “will,” “is/are likely to,” “could” and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For Investor and Media Inquiries Please Contact:

Investor Contact:

Hywin Holdings Ltd.
Ms. Jiawei Shen
Phone: +86 21-8013-3992
Email: ir@chyjr.com

The Blueshirt Group
Ms. Julia Qian
Phone: +1 973-619-3227
Email: Julia@blueshirtgroup.com

Media contact:

ICR, Inc.
Mr. Ker Zheng
Phone: +86 139-2280-3249
Email: HywinPR@icrinc.com

FAQ

What are the details of Hywin's IPO?

Hywin raised US$30 million by offering 3,000,000 ADSs at US$10.00 each, with each ADS representing two Class A ordinary shares.

Who managed the Hywin IPO?

The IPO was managed by Network 1 Financial Securities Inc., Alexander Capital L.P., and Valuable Capital Limited.

What market share does Hywin Holdings Ltd. have?

Hywin has a 7.5% market share in China's wealth management sector as of 2019.

How will Hywin use the funds from the IPO?

While the specific use of funds wasn't detailed, the capital is expected to bolster Hywin's wealth management and other business services.