June 25th, 2019, Jinxin Fertility Group Limited (“Jinxin Fertility” or the “Company”) (stock code: 1951.HK) successfully listed on Hong Kong stock exchange main board. CMBI acted as Joint Bookrunner and Joint Lead Manager for Jinxin Fertility’s IPO.
Jinxin Fertility is a leading assisted reproductive services (“ARS”) provider in China and the United States. The assisted reproductive medical facilities in its network in China ranked third in China’s ARS market in 2018, according to the F&S Report. These facilities also ranked first among China’s non-state owned ARS providers in 2018 based on the same metric. HRC Fertility, the company’s network in the United States, ranked first in the Western United States’ ARS market in 2018. It also ranked first among all ARS providers in the United States, in terms of IVF treatment cycles provided to ARS patients traveling from China to the United States for treatment in 2017, according to the F&S Report.
Jinxin Fertility issued 357,124,000 new shares in the global offering and was priced at high end HK$8.54 per share, with total proceeds being HK$3,050 million (assuming Over-Allotment Option is not exercised). The book was multiple times covered with a good mixed of investors. The international offering was oversubscribed because of the Company's excellent fundamentals and attractive pricing level.
The close cooperation among Corporate Finance, Equity Capital Markets, Structure Finance, Equity Department, Wealth Management Department and other departments of CMBI contributes a lot, which lays an important foundation for the final pricing of the project. The important contribution of CMBI to the project during its issuance and offering has been highly recognized by the management of the company.
