Waton Financial Debuts on Nasdaq, Stock Surges Nearly 400%
Waton Financial Debuts on Nasdaq, Stock Surges Nearly 400%

Waton Financial Debuts on Nasdaq, Stock Surges Nearly 400%

News summary

Waton Financial Limited (WTF) made a significant debut on the Nasdaq Capital Market, with its shares opening at $4.29, up from the initial public offering (IPO) price of $4.00. The IPO raised approximately $17.5 million by selling 4.38 million ordinary shares, with the option for underwriters to purchase an additional 656,250 shares. Following its first day of trading, the stock surged to $19.85, attracting considerable retail interest and speculation about further gains. However, it experienced a 25% drop in pre-market trading the following day, despite bullish predictions from some traders. The company primarily offers securities brokerage and financial technology services through its Hong Kong subsidiaries, aiming to enhance its trading platform and asset management business with IPO proceeds. The offering was underwritten by Cathay Securities and Dominari Securities.

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