Hong Kong brokerage Waton Financial set for Nasdaq debut after downsized $17.5 million IPO

Waton Financial

01/04/2025 16:26

* Hong Kong securities brokerage firm Waton Financial WTF.O set for Nasdaq debut on Tuesday

** WTF sold ~4.38 million shares at $4 apiece in its downsized U.S. IPO to raise $17.5 million

** Kowloon, Hong Kong-based WTF will be eligible for trading at about 12:00 p.m. ET, per Nasdaq

 ** Cathay Securities and  Dominari Securities were the underwriters for the offering

** WTF had initially planned on selling 5 million shares priced between $4 and $6 each

** At IPO price, WTF fetched a valuation of about $190 million

** Waton Financial provides securities brokerage and financial technology services through its Hong Kong subsidiaries

** IPO proceeds will be used to bolster its trading platform and asset management business, among other purposes

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))