Chinese dating site ipo
The company is benefiting from the emergence of a mass affluent class in China that has driven strong demand for wealth-management services. because their home stock market was faring badly, she said.
Read now: Marijuana IPOs in 2019: These companies could be the next hot pot stocks Also: Stampede of the ‘decacorns’: Here are the big-name startups preparing for 2019 IPOs The U. market was popular with Chinese companies in 2018, when 32 of them listed, the highest number in nine years, according to Kathleen Smith, a principal at Renaissance Capital, a provider of IPO exchange-traded funds. The Shanghai Composite ended the year down about 25%, its worst annual performance since 2008, the peak of the financial crisis.
The company allows mainland China investors to trade stocks in Hong Kong and the U. Don’t miss: Moderna: 5 things to know about the largest biotech to IPO Also: Beyond Meat is going public: 5 things to know about the plant-based meat maker In the first six months of 2018, the company brokered HK8.2 billion in client trades, according to its prospectus.
It has close ties to Tencent : Chief Executive Leaf Hua Li, Futu’s founder, was the 18th founding employee of Tencent, while Chief Technology Officer Ppchen Weihua Chen was a senior technology expert at Tencent.
The company had revenue of HK4 million (.6 million) in the nine months ending in September, up from HK8 million in the year-earlier period.
The company’s platform, called Futu Niu Niu, can be accessed on a mobile device such as a smartphone, tablet or desktop computer and offers news, data, research and analytical tools and social media.
Here are 5 things to know about Futu ahead of its IPO: Futu says its average client is 34 years old and is typically a high earner, with 45% working in the IT, internet and financial services fields.
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