Futu to price IPO

|About: Futu Holdings Limited (FHL)|By:, SA News Editor

Futu (FHL) is expected to price its IPO today. The Hong-Kong based brokerage platform already downsized the expected size of the offering to $120M from $300M.

Proceeds from the IPO are slated to be used for general corporate purposes - including research and development, funding working capital and to cover increased regulatory capital requirements in Hong Kong and other jurisdictions.

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