Market ReportIPO ROUND-UP

IPO Roundup: Financial institutions from Kansas and China each make their public debut

On Thursday, Kansas-based CrossFirst brought in $102 million, and Chinese lender 9F raised $85 million

Forklift lifting the final wooden block to create the word 'IPO'

CrossFirst Bankshares Inc (NASDAQ:CFB), a Kansas-based chain of banks, raised $102 million offering 7 million shares at $14.50 per share, just below its range of $15 to $17. 

Founded in 2007, CrossFirst Bank operates from seven locations in Kansas, Missouri, Oklahoma and Texas.

The company was formed as the holding company for the bank and was converted to a corporation in 2017. As of March 31, the bank had total assets of $4.3 billion, total loans of $3.3 billion, total deposits of $3.4 billion and total stockholders’ equity of $480.5 million.

Since opening trading at $14.50, shares have ticked up 0.8% to $14.61.

READ: NA Proactive news snapshot

9F Inc (NASDAQ:JPU), a Chinese financial services company, raised $85 million by offering 8.9 million shares at $9.50 per share, the high end of its range of $7.50 to $9.50.

 The Beijing-based company offers a suite of digital financial offerings, including loans and wealth management, which it packages to users in a service known as One Card.

The stock debuted at $10.88 and got as high as $13.60 before cooling off to $10.01.

A previous version of this story incorrectly listed 9F's ticker symbol         

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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