Tencent invested $8m as the Chinese online brokerage floated at the top of its range in the US, at a valuation of more than $1.3bn.
China-based online brokerage Futu Holdings went public on Friday in a $90m initial public offering that involved internet group and existing backer Tencent buying $8m of shares through subsidiary Tencent Mobility.
The company priced 7.5 million American depositary shares at $12 each, at the top of the IPO’s $10 to $12 range, valuing the company at approximately $1.33bn. Its shares opened at $16.41 on its first day of trading on Friday and closed at $15.32.
Futu runs a digital…
