Harneys provided BVI law advice to financial advisory services company China Internet Nationwide Financial Services, Inc. (CIFS) on its NASDAQ offering of 2,023,146 ordinary shares for a total of $20,231,460 at $10 per share on 31 July 2017. CIFS’ shares are currently trading on the NASDAQ Global Market under the symbol NASDAQ: CIFS.
China Internet Nationwide Financial Services, Inc. is headquartered in Beijing and provides financial advisory services to the underserved small-to-medium sized enterprises in China. Its services include international corporate financing advisory to meet the financing and capital needs of clients, as well as direct loans to certain qualified borrowers.
Harneys’ Senior Associate Fergal McLoughlin advised on the deal alongside Partner Benjamin Tan and Associate Will Rao of New York law firm Sichenzia Ross Ference Kesner LLP.
McLouglin stated that the BVI has long been a jurisdiction of choice for businesses in Asia, and the jurisdiction accounts for a considerable amount of the region’s offshore business. CIFS’ listing further highlights the strong ties between both locations, in which Harneys fields strong corporate, funds and litigation teams.