O’Melveny Represents Tiger Brokers in Nasdaq IPO
March 21, 2019
FOR IMMEDIATE RELEASE
NEW YORK—MARCH 21, 2019—O’Melveny represented UP Fintech Holding Limited (Tiger Brokers) (Nasdaq: TIGR) in its US$104 million IPO on the Nasdaq. Tiger Brokers offered 13 million ADSs at $8, above the range of $5 to $7. In addition, there is a greenshoe exercise option of 1,950,000 ADSs, for a total projected offering size of US$119.6 million should the overallotment option be exercised in full. The stock closed up over 30% on its first day of trading.
Founded in 2014, Tiger Brokers is a leading online trading platform focused on global Chinese investors. Citi and Deutsche Bank acted as lead managers on the deal. Backers included Interactive Brokers Group Inc. and Xiaomi Corp.
The O’Melveny team was led by partners Ke Geng and Han Li, with support from associate Claire Huang and legal consultants Liam Liu and Tiffany Liu. Partner Rob Plesnarski and counsel James Harrigan advised on SEC and FINRA related issues, and partner Luc Moritz and counsel Anita Choi provided tax-related advice.
Click here to see the Nasdaq press release.
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