On October 29, 2024, UP Fintech Holding Limited announced that the underwriters of its recent follow-on public offering fully exercised their option to purchase an additional 2,250,000 American Depositary Shares (ADSs). These additional ADSs were purchased from the company at the public offering price of US$6.25 per ADS.
The full exercise of the over-allotment option demonstrates robust market demand for UP Fintech's shares. This action provides the company with additional capital, further enhancing its financial resources for strategic investments and business expansion. The offering was jointly managed by Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited, and US Tiger Securities, Inc.
This development contributes to a stronger capital base for UP Fintech, supporting its ongoing initiatives in product development and market penetration. The additional funds will aid the company in pursuing its growth objectives in the competitive online brokerage sector.
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