NEW YORK , NEW YORK, UNITED STATES, March 19, 2019 /EINPresswire.com/ — Wall Street veteran Jeffery Steven Stone addresses IPO Sydicate Calendar for Week of 3.18 2019 announcement from leading online brokerage firm UP Fintech Holding Ltd.
A leading online brokerage firm focused on global Chinese investors, UP Fintech Holding Ltd (NASDAQ: TIGR) is the world's largest such broker focused on this market in terms of U.S. securities trading volume, with a market share of approximately 60% last year according to capital procurement/trader specialist Jeffery Steven Stone.
The financials sector organization is seeking estimated proceeds of $78 million, Wall Street investment expert Stone reveals, with 13 million primary shares offered at a price range of between $5.00 and $7.00 each. Currently in registration, the UP Fintech Holding Ltd IPO offer date is set for Wednesday, March 20, 2019.
"UP Fintech Holding Ltd is offering American depositary shares," Stone explains, "a form of U.S. dollar-denominated equity share of a foreign-based company."
Available for purchase on the appropriate stock exchange, American depositary shares are issued by depository banks in the United States under agreement with the issuing foreign company. "Underwriters in this instance are CitiGroup, Deutsche Bank Securities, and China Merchants Securities," adds Stone.
Based in the Chaoyang District of Beijing, one of the fastest growing districts in the city, UP Fintech Holding Ltd, under CEO Tianhua Wu, currently employs more than 400 highly-qualified staff. "UP Fintech Holding Ltd's superior user experience has enabled the firm to become one of the most utilized and well-recognized online trading options for Chinese investors globally," Stone reveals.
Through its website and mobile application, UP Fintech Holding Ltd offers customers with what it calls “a comprehensive brokerage” with services including trade order placement and execution, margin financing, account management, and investor education.
"The organization's so-called 'mobile first' strategy, robust infrastructure, and use of cutting-edge technologies have all seen the company steadily attract new customers," explains Stone, "achieving substantial growth since the initial launch of its trading platform in August 2015."
UP Fintech Holding Ltd generates revenues primarily through commission fees for the trading of securities in addition to earning interest income or financing service fees, arising from—or related to—margin financing provided by the company. Total revenues in 2016, 2017, and 2018 were $5.5 million, $16.9 million, and $33.6 million respectively.
Jeffery Steven Stone is a Managing Partner at New York City-based Eurasian Capital, LLC, responsible for trading the firm's proprietary capital and corporate finance platform. Further to overseeing the organization's selection analysis and daily investment affairs, Stone's principal activities entail utilizing a platform of hedging strategies including quantitative-driven swing trading, covered call writing, and pair trading activity.
THIS IS FOR INFORMATIONAL PURPOSES ONLY. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Source: EIN Presswire