AMTD completes the US IPO of Tiger Brokers
On 20th March 2019 EST, Tiger Brokers (the “Company”, Nasdaq: TIGR), a leading online securities brokerage firm focusing on Chinese around the globe, was successfully listed on Nasdaq stock exchange. Acting as the sole Financial Advisor and Joint Bookrunner, AMTD successfully assisted Tiger Brokers in completing the IPO. It marks the 6th US IPO deal completed by AMTD following the IPOs of China’s leading fintech company X Financial (NYSE: XYF), China’s leading auto loan technology platform Weidai (NYSE: WEI), China’s leading omni-channel automotive marketplace Tuanche (Nasdaq: TC), the Chinese Internet Giant-backed fintech platform 360 Finance (Nasdaq: QFIN) and a leading Hong Kong-based medical innovation and biopharmaceutical company Aptorum Group (Nasdaq: APM). It is also the 5th IPO deal completed by AMTD since inception of the year, which demonstrated AMTD’s exceptional capability in assisting Chinese new economy companies to land on the international capital markets.
Mr. Tianhua Wu (3rd left), founder and CEO of Tiger Brokers, Mr. Calvin Choi (2nd right), Chairman and CEO of AMTD Group, Mr. Wei Liu (2nd left), Head of Xiaomi Finance Office, Mr. Marcellus Wong (1st left), Vice Chairman of AMTD Group, and Mr. Philip Yau, CFO of AMTD Group attended the listing ceremony of Tiger Brokers at Nasdaq
Tiger Brokers is a leading online securities brokerage firm focusing on global Chinese investors. The Company is the largest online broker focusing on serving Chinese investors in terms of U.S. securities trading volume, with a market share of approximately 58.4% in 2017. The Company’s proprietary trading platform enables investors to trade equities and other financial instruments on multiple exchanges around the world. The Company offers customers comprehensive securities brokerage services as well as other value-added services, including trade order placement and execution, margin financing, account management, investor education, community discussion and customer support, all within a few taps or clicks through its innovative platform.
Mr. Tianhua Wu (3rd right), founder and CEO of Tiger Brokers, Mr. Calvin Choi (2nd right), Chairman and CEO of AMTD Group, Mr. Wei Liu (3rd left), Head of Xiaomi Finance Office, Mr. Marcellus Wong (2nd left), Vice Chairman of AMTD Group, Mr. Philip Yau (1st right), CFO of AMTD Group, Mr. Ming Lin Cheung (1st left), Head of Corporate Solutions & Executions of AMTD Group attended the listing ceremony of Tiger Brokers
Tiger Brokers issued 13 million shares of American Depositary Shares (ADS), representing 195 million ordinary shares globally through this IPO. Each ADS represents 15 Class A ordinary shares. The ADS was priced at USD$8, above the initial price range of USD$5 – $7. The total fund raised reached over USD100 million. This IPO has been well received by international investors. More importantly, as the sole Financial Advisor and Joint Bookrunner, AMTD contributed a large portion of orders, including that from international long-only funds, hedge funds, and institutional asset managers, which laid the solid foundation for the success of this issuance. On the first trading day, Tiger Brokers was highly sought-after by secondary investors, and closed higher by 36.5% from offering price.
As the leader and representative of the new generation of Hong Kong financial institutions, AMTD has the vision that the power of innovative technology, especially fintech, will transform the future of traditional financial services. AMTD unleashes the dynamics of the next generation of financial institutions who embrace innovation, and has always been dedicated to innovation and development of fintech. AMTD is committed to undertaking the “Super-Connector” role between the leading fintech companies and international capital markets. In 2018, as the sole strategic partner of the Government of Hong Kong SAR, AMTD co-organized “2018 Hong Kong Fintech Week”. Furthermore, AMTD acted as the only Hong Kong financial institutional strategic partner of Monetary Authority of Singapore for the second consecutive year to organize the world’s largest fintech festival “Singapore Fintech Festival”.
AMTD has also yielded fruitful results in assisting fintech corporations to land on the international capital markets. Apart from Tiger Brokers, AMTD has acted as Lead Investment Bank, Joint Lead Underwriter, and Joint Bookrunner to assist various fintech companies to successfully complete their IPOs, including 360 Finance, the leading fintech company backed by Chinese Internet Giant; X Financial, China’s leading fintech company; and Weidai, China’s largest auto loan fintech platform. In addition, AMTD successfully introduced Government of Singapore Investment Corporation (GIC) and other global leading investors to the private financing of Dianrong, a China’s leading fintech company. AMTD has also made extensive investments in the fintech industry, especially in those leading companies located in China, North America, and Southeast Asia, including 58 Finance, the fintech platform of China’s largest online classified provider 58.com Group; and AMTD partnered with Standard Chartered to strategically invest in Dianrong, a Chinese fintech Company established by Soul Htite, co-founder of Lending Club, and joined hands with Dianrong to successfully incubate the fintech marketplace FinEX Asia in Hong Kong. AMTD has also made strategic investment in the Indonesian leading fintech platform AwanTunai, marking an important step of AMTD’s fintech layout in Southeast Asia; and made investment in Credible Labs, a U.S. based internet financial company uniquely focusing on student loans and assisted the company to list in Australia Stock Exchange.