Hong Kong – HR service provider Renrui launches IPO

Renrui Human Resources Technology, a mainland China-based HR service provider, announced that it is launching its Hong Kong initial public offering.

According to The Standard, the IPO aims to raise HKD 1.1 billion (USD 140.5 million) with a minimum investment of HKD 2,919 (USD 372.8) per board lot of HKD 100 (USD 12.77) shares.

Renrui mainly provides flexible staffing services to new economy companies, with clients such as ByteDance, Mobike, and Xiaohongshu. According to Bloomberg, Renrui offers talent outsourcing, professional recruitment, corporate training, and BPO services. Renrui Human Resources Technology Holdings serves customers in China.

Renrui’s chairman Zhangjianguo said the industry is expanding rapidly with an overall growth rate of more than 30%, and added that only a few companies reduced staff numbers due to adjustments in business strategy.

The IPO prospectus is available here.

Source: Staffing Industry Analysis | Apply: Hong Kong – HR service provider Renrui launches IPO