ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Companies

Tencent-backed brokerage Futu targets $130m in US listing

Xiaomi-linked rival also headed for Nasdaq debut

Two Chinese fintech startups are preparing for an IPO on Nasdaq.   © Reuters

NEW YORK -- Futu Holdings, an online stock brokerage based in Hong Kong and backed by Tencent Holdings, has set terms to raise up to $130 million in its Nasdaq initial public offering, which will value the company at over $1 billion.

Catering to an emerging affluent population in China, Futu offers trading services for stocks listed in Hong Kong and the U.S. Tencent, which already holds 38.2% of the startup, has indicated interest in purchasing up to 25% of the new shares issued, according to Futu's prospectus.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more