US-listed shares of UP Fintech slip after unveiling stock offering

UP Fintech Holding

22/10/2024 13:23

** U.S.-listed shares of Chinese brokerage firm UP Fintech
 TIGR.O  fall 7.1% to $6.91 premarket
    ** TIGR plans to sell 15 mln American Depositary Shares
(ADS) in a follow-on public offering
    ** Proceeds will be used to strengthen TIGR's capital base
and to invest in its business
    ** Stock closed up 3.1% at $7.44 on Monday
    ** Deutsche Bank, CICC, and US Tiger Securities are the
joint bookrunners for the offering
    ** As of last close, TIGR stock was up 68.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))