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Why Did Waton Financial Plunge 25.94% Post-IPO?
Generated by AI AgentAinvest Movers Radar
Wednesday, Apr 2, 2025 4:44 am ET1min read
On April 2, 2025,
experienced a significant drop of 25.94% in pre-market trading, marking a notable decline in its stock performance.Waton Financial Limited recently announced the pricing of its initial public offering (IPO), with 4.38 million ordinary shares priced at $4.00 per share. The company, incorporated in the British Virgin Islands, specializes in securities brokerage and financial technology services through its Hong Kong subsidiaries, Waton Securities International Limited and Waton Technology International Limited. The IPO is expected to generate approximately $17.5 million in gross proceeds for the company.
The underwriters of the offering have been granted a 45-day option to purchase up to an additional 656,250 ordinary shares at the initial public offering price. The shares are set to begin trading on the Nasdaq Capital Market under the ticker symbol 'WTF' on April 1, 2025, with the offering expected to close on April 2, 2025, subject to customary closing conditions.
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