TIAN RUIXIANG Holdings Ltd. Successfully Closed its Initial Public Offering
February 11, 2021
TIAN RUIXIANG Holdings Ltd (the “Company”), a China-based insurance broker, successfully closed its initial public offering (“Offering”) of 3,000,000 Class A ordinary shares at a public offering price of US$4.00 per share on February 1, 2021. The Company received aggregate gross proceeds of US$12 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 Class A ordinary shares at the public offering price.
The Class A ordinary shares commenced trading on the Nasdaq Capital Market on January 27, 2021 under the ticker symbol “TIRX.”
Proceeds from the Offering will be used for opening up new branches; research, development and operational investment on the Company’s new Internet insurance center, and general working capital.
Hunter Taubman Fischer & Li LLC (“HTFL”) acted as counsel to the Company. HTFL is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.