Xiaomi-Backed Tiger Brokers Increases IPO Price to USD8 a Share
Dou Shicong
DATE:  Mar 20 2019
/ SOURCE:  yicai

(Yicai Global) March 20 -- Up Fintech Holding, a Xiaomi-backed firm also known as Tiger Brokers, has increased the price of its shares to USD8 a piece just hours ahead of its listing on the Nasdaq today.

The online brokerage will issue 13 million American depositary shares and could raise up to USD119.6 million if underwriters enact their over-allotment option of 1.95 million shares, research portal IPO Boutique reported.

The Beijing-based firm originally planned to price the ADSs at between USD5 and USD7, capping the initial public offering at USD91 million, according to the prospectus it published on March 12.

Tiger Brokers was founded in 2014 and offers stock trading services, share margin financing, asset management and quantitative trading. It is mostly geared toward American and Hong Kong exchanges, but also has securities licenses for New Zealand and Australia.

Editor: James Boynton

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Keywords:   Tiger Brokers,IPO