Tuesday, November 20, 2018

Jim Rogers Backed Online Brokerage Tiger Brokers Plans to Raise $200 Million in US

Tiger Brokers, a Chinese online securities brokerage backed by famous Wall Street investor Jim Rogers, plans to raise around $200 million through a U.S. initial public offering, people with knowledge of the matter told Bloomberg.

The Beijing-based Fintech unicorn has appointed investment banks to arrange the stock offering and aims to sell shares as soon as the first quarter of next year, said the unnamed source.

Founded by former NetEase developer Wu Tianhua in 2014, the company has received multiple rounds of high-profile investments, including from Wall Street investment guru Jim Rogers, U.S.-based Interactive Brokers Group Inc, Xiaomi Inc., and China's largest angel investment fund, ZhenFund.

Tiger Brokers recently closed an $80 million Series C round of financing, bringing its valuation to more than $1 billion, according to a press release in August. The latest round was a co-investment led by Prospect Avenue Capital (PAC), Orient Hontai Capital, and Oceanpine Capital.

According to Reuters, Tiger's direct competitor, Futu Securities, has filed a preliminary confidential prospectus with the Securities and Exchange Commission. Futu Securities is backed by internet giant Tencent Holdings Ltd.

Tiger Brokers, through its app Tiger Trade, helps Chinese investors trade U.S. stocks, Hong Kong-listed stocks, and China A shares via the stock connect scheme between Hong Kong and mainland bourses. In addition, the app offers live news feeds and robo-advising wealth management services.

As of June 1, only 33 months since its launch, Tiger Brokers had seen its accumulated trading volume reach 100 billion yuan, the company said.

- Source, Capital Watch

Thursday, November 15, 2018

Jim Rogers: Backed China Online Brokerage Is Said to Plan IPO

Tiger Brokers, the Chinese online brokerage backed by veteran investor Jim Rogers, is planning a U.S. initial public offering that could raise about $200 million, people with knowledge of the matter said.

The company, which also counts phone giant Xiaomi Corp. as an investor, has appointed banks to arrange the stock offering, the people said, asking not to be identified because the information is private. Tiger Brokers aims to sell shares as soon as the first quarter of next year, said the people.

Futu Securities, a rival online brokerage backed by Tencent Holdings Ltd., has already filed confidentially for a U.S. stock sale, people familiar with the matter said last week. First-time share sales from Chinese companies have raised $7.8 billion in the U.S. this year, more than triple the volume during the same period in 2017, data compiled by Bloomberg show.

A representative for Tiger Brokers didn’t immediately respond to an email and phone calls seeking comment.

Tiger Brokers helps Chinese investors trade shares in overseas markets including the U.S. and Hong Kong. The firm’s investors include Interactive Brokers Group Inc. and ZhenFund, in addition to Xiaomi and Rogers, its website shows. Tiger Brokers raised a series C financing round in July valuing the company at $1.06 billion, according to a statement at the time.

- Source, Bloomberg

Tuesday, November 6, 2018

Jim Rogers: Gigantic Short Position in Gold and Silver Right Now

World renowned investor, Jim Rogers, sat down with SBTV at The Safe House and shared his thoughts on the changing fortunes of the US, the coming global financial collapse and the state of the gold & silver markets.

- Source, SBTV

Friday, November 2, 2018

Jim Rogers: The Worst Crisis In My Lifetime

Stocks are selling off. Could this be the beginning of the end? 

Legendary investor Jim Rogers talks to Silver Doctors. How bad will the next crash be? Stocks will fall over 50%, he says, just as it has in previous bear markets. 

He predicts the next crisis will be the worst in his lifetime. While gold and silver have held up well during the sell-off over the last couple days, Rogers says the precious metals’ could fall. 

Lastly, Rogers talks commodities other than precious metals. He says sugar is 80 percent below its all time high.

- Source, Silver Doctors

Before This Is Over, Gold is Going Turn Into A Bubble

Famed investor Jim Rogers, chairman of Rogers Holdings, told Kitco News that while he is not yet buying gold at current levels, a rebound in the yellow metal could cause it to overheat. 

“Before this is over, gold could turn into a very overpriced asset, it might even turn into a bubble,” he said. Rogers noted that while he holds physical gold, he would not buy more until prices drop below $1,000 an ounce. “I’m still waiting for $950 an ounce, or something like that,” he said. 

On U.S. equities, Rogers said that current valuations are overstretched, although stock prices could still climb higher on good news. 

He added that the next bear market could be “the worst in my lifetime,” and that instead of U.S. stocks, he is looking at investing in Zimbabwe, an emerging market. 

“I’m buying Zimbabwe. Zimbabwe was ruined for 40 years by a crazy dictator. There’s a new guy, he may be worse, he may be better, but he’s certainly different, so you should think about Zimbabwe,” he said.

- Source, Kitco News