BEIJING, June 30 /PRNewswire-Asia-FirstCall/ -- China Finance Online Co., Ltd. ("China Finance Online"," the "Company") (Nasdaq: JRJC), the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets, today announced that the Company's Hong Kong brokerage subsidiary, Daily Growth Securities Limited ("Daily Growth"), underwrote its first initial public offering ("IPO") on the Growth Enterprise Market ("GEM") of the Hong Kong Stock Exchange.
As the Joint Lead Manager with Sun Hung Kai Financial, Daily Growth successfully completed the initial public offering for Asian Capital Holdings Limited (Stock Code: 08295), with gross proceeds of HK$60.0 million. Co-lead Managers were Mizuho and Cantor Fitzgerald.
Mr. Zhiwei Zhao, Chief Executive Officer of China Finance Online, stated, "We are very excited that Daily Growth has reached a major milestone for their successful underwriting of its first IPO on the Hong Kong Stock Exchange. While we continue to grow the baseline subscription business in mainland China, our Hong Kong brokerage operation is also gaining traction as Hong Kong's vibrant capital market continues to attract retail, institutions and corporate participants. We anticipate more corporate issuers and investors from mainland China, come to the Hong Kong market seeking global exposure and various financial instruments to diversify their investment portfolio. Even corporations worldwide begin to view the Hong Kong market as a new source for capital-raising. We expect Daily Growth's growing brokerage resources, over time, will bode well with our market-leading data capabilities, and our well-established relationships with China's main exchanges and corporate issuers, to provide multiple tiers services to investors in China mainland and Hong Kong, and reinforce our position as the one-stop financial information and service provider."
About China Finance Online
China Finance Online Co. Limited is the technology-driven, user-focused market leader in China in providing vertically integrated financial services and products including news, data, analytics and brokerage through web portals, software systems, and mobile handsets. Through its web portals, http://www.jrj.com and http://www.stockstar.com , the Company provides individual users with subscription-based service packages that integrate financial and listed-company data, information and analytics from multiple sources with features and functions such as data and information search, retrieval, delivery, storage and analysis. These features and functions are delivered through proprietary software available by download, through the internet or through mobile handsets. Through its subsidiary, Genius, the Company provides financial information database and analytics to institutional customers including domestic securities and investment firms. Through its subsidiary, Daily Growth, the Company provides securities brokerage services for stocks listed on Hong Kong Stock Exchange.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's strategic operational plans and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The Company believes that the Chinese economy continues to expand; however, the expansion may be uneven with certain sectors being affected more than others with resulting volatility in the Chinese equity market which could influence the Company's operating results in the coming quarters. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For more information, please contact:
In China:
Julie Zhu
Investor Relations
China Finance Online Co., Ltd.
Email: ir@jrj.com
In the United States:
Kevin Theiss
Grayling
Phone: +1-646-284-9409
Email: kevin.theiss@grayling.com