Hong Kong brokerage firm Huatong Finance (WTF.US) files for US IPO, seeking to raise $40M

Market IntelMonday, Nov 25, 2024 3:10 am ET

1min read

Waton Financial, a Hong Kong-based securities brokerage and fintech service provider, officially filed its IPO application with the U.S. Securities and Exchange Commission on Friday, aiming to raise up to $40 million through its initial public offering and plans to list on the Nasdaq under the ticker symbol WTF. The company operates mainly through its subsidiaries WSI and WTI.

Waton Financial's business covers securities brokerage services and the fintech sector, with WSI focusing on brokerage services for securities listed on the Hong Kong Stock Exchange, as well as software licensing and related support.

Since September 2023, WTI has focused on providing software licensing and related support services, leveraging its expertise in the operation and service areas to create value for its clients.

Founded in 1989, Waton Financial achieved revenue of $10 million in the 12 months ended March 31, 2024. The sole bookrunner for the IPO is Guotai Securities, but the specific pricing terms have not been disclosed.

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