BUZZ-US-listed shares of UP Fintech slip after unveiling stock offering

Reuters

2024-10-22

** U.S.-listed shares of Chinese brokerage firm UP Fintech

fall 7.1% to $6.91 premarket

** TIGR plans to sell 15 mln American Depositary Shares $(ADS.AU)$ in a follow-on public offering

** Proceeds will be used to strengthen TIGR's capital base and to invest in its business

** Stock closed up 3.1% at $7.44 on Monday

** Deutsche Bank, CICC, and US Tiger Securities are the joint bookrunners for the offering

** As of last close, TIGR stock was up 68.3% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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