FG Holdings (FGO.US), a Hong Kong mortgage brokerage services company, priced its IPO at $4-$5/share, planning to raise $9M.
1min read FG Holdings (FGO.US), a Hong Kong-based company focused on providing mortgage brokerage services, has filed a preliminary prospectus with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) that aims to raise up to $9 million, with plans to issue 2 million shares at a price range of $4 to $5 per share. At the midpoint of the proposed price range, the company's market capitalization would be $144 million.
FG Holdings, through its operating subsidiary, has built a financial technology platform focused on private credit mortgage and bank mortgage brokerage services. The platform not only offers mortgage application simulation services to borrowers but also showcases a diverse range of loan options from multiple lenders, aiming to help borrowers find the most suitable loan options and facilitate their connections with appropriate lenders.
Since its inception, FG Holdings has successfully provided loans totaling over $906 million to 528 borrowers. In the fiscal year ended June 30, 2024, it provided $401 million in loans.
Founded in 2019, FG Holdings generated $3 million in revenue in the 12 months ended June 30, 2024. The company plans to list on the Nasdaq under the ticker symbol "FGO" to further expand its business footprint.
It is noteworthy that FG Holdings filed a confidential IPO application on December 28, 2023, and this public disclosure marks a significant step in its IPO process. Revere Securities is acting as the sole bookrunner for the transaction and will help FG Holdings complete this milestone financing plan.
