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
