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Tiger Brokers reportedly planning USD 200 mn IPO

Oct 29, 2018 by The Passage Team
Tiger Brokers reportedly planning USD 200 mn IPO

Tiger Brokers, the Chinese online brokerage backed by veteran investor Jim Rogers, is planning a US IPO that could raise about USD 200 million, said Bloomberg citing people with knowledge of the matter.

Chinese phone manufacturing giant Xiaomi also invested in the brokerage company, which also counts Interactive Brokers Group Inc. and ZhenFund among its investors, in addition to Rogers. It is said that Tiger Brokers has appointed banks to arrange the stock offering, aiming to sell shares as soon as the first quarter of next year.

Tiger’s rival online brokerage, Futu Securities, which is backed by Tencent Holdings Ltd., has already filed for a US IPO confidentially last week. Bloomberg data shows that first-time share sales from Chinese companies have raised USD 7.8 billion in the US this year, tripling the volume during the same period in 2017.

Source: Bloomberg

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