Huali University IPO, First Capital Securities acts as the joint lead manager


On 25 November 2019, Huali University Group Limited (“Huali University”; Stock code: 1756.HK) was successfully listed on the Main Board of HKEx. China First Capital Group (“CFCG” or the “Group”; Stock code: 1269.HK), a wholly-owned subsidiary, First Capital Financial Group Limited (“FC Financial Group”) and its First Capital Securities Limited (“FC Securities”) act as joint lead manager. Ms. Li Minwen, Deputy Chief Executive Officer of CFCG, Chairman of FC Financial Group, attended the listing ceremony with Ray Shang, the Assistant Vice President of FC International Finance Limited.

Huali University's placement price range was HK $ 2.93-3.26, and the final price is HK $ 3.26. Among the net proceeds of HK $ 890 million, 51% will be used for the expansion fo3 its existing schools by constructing additional buildings for Huali College and Huali Vocational College; 39% for the establishment of a new junior college in Jiangmen City, Guangdong Province; 10 % for working capital and general corporate purposes.

Huali University is a leading large-scale private higher education and vocational education group in South China, offering applied science-focused and practice-oriented programs. It operates three private schools in Guangdong Province, namely Huali College, Huali Vocational College and Huali Technician College. According to the Frost & Sullivan Report, by the end of 2018, as measured by student enrollment, we ranked second among all private vocational education service providers in South China and ranked fourth among all private higher education service providers in South China.