Transaction Overview
- Renrui HR is a fast growing pioneer in HR solutions in China, operating on the largest scale in terms of number of flexible staffing employees hired. Renrui HR focuses on servicing renowned rising Chinese companies, including a large number of fast-growing new economy companies and industry-leading corporates as its recurring client base.
- Renrui HR is priced at HK$26.60 per share in the price range of HK$26.60–$28.90 per share, with total proceeds being US$129 million (assuming Over-Allotment Option is not exercised).
- The company received lots of attention from investors before the deal and attracted renowned investors including VMS Investment Group, Macquarie Group and LC Fund V (Approximately 20.83% limited partner interests was held by Right Lane Limited (a wholly-owned subsidiary of Legend Holdings Corporation)). The global offering is highly recognized by investors and introduced two high-level cornerstone investors: Long-only fund Anatole Investment Management and Chinese Malaysian entrepreneur Dato’ Swee Lian Woo.
- CMB International used its close relationship with investors in this issue to assist the company to introduce international investors that supported the issuance.
- This deal cannot be closed without supports from various departments and local branch offices of the parent company CMB. The close cooperation among Corporate Finance Department, Equity Capital Markets Department, Equities Department, Wealth Management Department and Legal & Compliance Department also helped a lot.
Offering Summary
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Issuer: |
Renrui Human Resources Technology Holdings Limited |
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Listing Date: |
Dec 13th, 2019 |
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Offering Amount: |
US$129 Million (before exercise of Over-allotment Option) |
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Indicative Price Range |
HK$26.60 – 28.90 per share |
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Offering Price: |
HK$26.60 per share |
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Offering Size: |
38,000,000 Shares (100% primary shares, representing 25.2% of enlarged share capital, before exercise of Over-allotment Option) |
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Stock Code: |
6919.HK |
About the Company
Renrui HR is a fast growing pioneer in HR solutions in China, operating on the largest scale in terms of number of flexible staffing employees hired by the end of 2018 and revenue generated from flexible staffing services in 2018, according to CIC. Renrui HR focuses on servicing renowned rising Chinese companies, including a large number of fast-growing new economy companies and industry-leading corporates as its recurring client base. Renrui HR is the leading flexible staffing service provider with the only self-developed O2O recruitment platform China as of June 30, 2019, and operates more than 20 offices as of the latest practicable date. Renrui HR’s ability to indemnify and work closely with these renowned rising companies at an early stage has allowed it to grow together with them and achieve significant growth during the track record period.
Source: Prospectus, Public Announcement
