Shanghai-headquartered wealth manager Hywin is seeking a public listing in the U.S. with an eye on raising up to $48 million.
Hywin Holdings will look to go public on the Nasdaq, according to a filing with the U.S. Securities and Exchange Commission, with Network 1 Financial Securities as its sole book runner for the deal though no terms were disclosed.
In the 12 months ended June 30 last year, the firm recorded revenue of $181.5 million.
Expansion Mode
Hywin’s plans to raise funds through the public market coincide with its ongoing expansion including, most recently, plans to acquire multiple financial service licenses in Singapore. If successful, the firm aims to hire 10 to 15 new staff in the city-state and attract $500 million of client assets in the first year.
Hywin currently houses more than 2,400 employees across offices in Hong Kong and mainland China and executed client transactions in 2020 valued at over 68.2 billion yuan ($9.7 billion).
