O’Melveny Represents Underwriters in US$183 Million Follow-on Public Offering of Tiger Brokers Shares

June 17, 2021



BEIJING—June 17, 2021—O’Melveny represented the underwriters in the recent US$183 million follow-on offering of UP Fintech Holding Limited (Tiger Brokers) (Nasdaq: TIGR). Tiger Brokers offered 7.47 million American Depositary Shares (including the full exercise of an option to purchase additional ADS) at US$24.5 per ADS. Citi Group and Morgan Stanley acted as representatives of the underwriters on this follow-on offering.

Founded in 2014 and listed on NASDAQ in 2019, Tiger Brokers is a leading online brokerage firm focusing on global investors.  Its proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. Tiger Brokers offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion, and customer support.

This deal is the first follow-on offering for Tiger Brokers since its IPO. O’Melveny also advised on that transaction. The public offering price represented a 2.4% discount on the closing price as of the last day before the pricing of this deal.

The O’Melveny team included Beijing corporate partner Ke Geng, counsel Xueyin Zhong, senior legal consultant Aaron Xin, and legal consultant Tiffany Liu. Partner Kurt Berney, counsel Logan Tiari, and associate Claire Huang provided valuable deal support. Counsel James Harrigan advised on FINRA-related issues and counsel Billy Abbott provided tax-related advice.

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Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218

Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000