UP Fintech Holding Limited Plans $114 Million IPO for March 20th (TIGR)

UP Fintech Holding Limited (TIGR) plans to raise $114 million in an initial public offering on Wednesday, March 20th, IPO Scoop reports. The company plans to issue 19,000,000 shares at $5.00-$7.00 per share.

In the last twelve months, UP Fintech Holding Limited generated $33.6 million in revenue and had a net loss of $43.2 million. UP Fintech Holding Limited has a market-cap of $798.2 million.

Citigroup and Deutsche Bank Securities acted as the underwriters for the IPO and AMTD, China Merchants Securities (HK) and Tiger Brokers were co-managers.

UP Fintech Holding Limited provided the following description of their company for its IPO: ”  We are a leading online brokerage firm focusing on global Chinese investors. We are the largest online broker focusing on global Chinese investors in terms of U.S. securities trading volume, with a market share of approximately 58.4% in 2017, according to the iResearch Report. Our proprietary trading platform enables investors to trade in equities and other financial instruments on multiple exchanges of stocks and other derivatives around the world. Our continuous focus on offering innovative products and services and a superior user experience has enabled us to become one of the most utilized and well-recognized online trading platforms for Chinese investors around the world. “.

UP Fintech Holding Limited was founded in 2014 and has 446 employees. The company is located at 18/F, Grandyvic Building, No. 1 Building, No. 16 Taiyanggong Middle Road, Chaoyang District, Beijing, 100020 PRC and can be reached via phone at +86-10-56216660. or on the web at http://www.itiger.com.

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