UP Fintech Holding Limited finalized its follow-on public offering, securing significant capital to expand its operations. The funds raised through the sale of American Depositary Shares (ADS) aim to boost the company's business development initiatives and strengthen its capital base.

According to an announcement by the online brokerage firm, the fundraising was through the offering of 15 million ADSs, each representing 15 Class A ordinary shares, which was priced at $6.25 per ADS. Additionally, underwriters have a 20-day option to purchase up to 2.25 million more ADSs at the same offering price.

Boosting Capital

The offering, which was made under an automatic shelf registration statement filed with the US Securities and Exchange Commission (SEC), marks a pivotal moment for UP Fintech as it continues to expand its presence and service portfolio in the online brokerage space, the company mentioned.

The net proceeds from this public offering will strengthen the company's capital reserves and advance business development. The firm expects this injection of capital to enhance its ability to serve global investors through its proprietary trading platform, which allows users to trade equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term and other financial instruments across various global exchanges.

UP Fintech added that this fundraising is important to support its ongoing development and market expansion plans. The firm added that the offering aligns with its vision of scaling operations and providing better services to its global client base.

Efforts by Major Financial Players

Several major financial institutions played a key role in the execution of the ADS offering. Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited, and US Tiger Securities, Inc. acted as joint bookrunners for the transaction.

The offering followed SEC regulations and was made via a prospectus supplement. The brokerage firm mentioned that investors can access the details of the offering through the SEC's official website to ensure transparency and regulatory compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term.

UP Fintech, renowned for its mobile-first trading platform, caters to global investors. The company offers a suite of services, including trade order execution, margin financing, and IPO subscription. By investing in further business development, UP Fintech plans to enhance its service offerings and infrastructure, allowing it to better serve both existing and future customers.