Chinese online brokerage Futu to go public in US in 2019

NEW YORK (Xinhua) – Futu Holdings, a Hong Kong-based online brokerage, plans to debut in the US public markets next year as it filed for an initial public offering (IPO) with the US Securities and Exchange Commission on Friday.

It plans to list on the Nasdaq under the symbol FHL and aims to raise up to USD300 million in the IPO. Founded in 2011, the company posted revenue of USD92 million for the 12 months ended September 30, 2018. The stock investing service has been backed by corporate shareholders with USD215.5 million, including China’s internet giant Tencent, US private equity investment firm Matrix Partners and US venture capital firm Sequoia Capital, Futu disclosed on its official website.