Up Fintech rolls out smaller $91m Nasdaq IPO

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By Jonathan Breen
13 Mar 2019

Up Fintech, parent of online trading platform Tiger Brokers, has launched bookbuilding for a smaller-than-expected $91m IPO.

The Nasdaq listing comprises 13m American Depository Shares (ADSs), representing 195m of the issuer’s class A ordinary shares. The ADS are on offer at $5-$7 each, sizing the deal anywhere from $65m-$91m.

The issuer is also conducting a concurrent private placement with existing shareholder IB Global Investments, a ...

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