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Latham advises underwriters in Futu Holdings share offering

May 21, 2021
Leading financial technology platform offers 9.5 million American depositary shares.

Futu Holdings Limited, a leading one-stop financial technology platform in China, has completed an offering of 9,500,000 American depositary shares (ADS), each representing eight Class A ordinary shares of the company at a price of US$130.00 per ADS.

Latham & Watkins advised the underwriters, BofA Securities, Inc. and Haitong International Securities Company Limited, in the offering. This transaction follows the company’s previous offerings of 9,500,000 American depositary shares in 2020 and the US$100 million initial public offering in 2019, which Latham also advised on.

Futu Holdings Limited is an advanced technology company offering a fully digitized brokerage and wealth management platform. The company plans to use the proceeds from the offering to support its international expansion as well as potential investment and acquisition opportunities, among others.

Latham & Watkins represented the underwriters in the transaction with a capital markets team led by Hong Kong partners Benjamin Su and Daying Zhang, with associates Eric Yiu, Chimmy Tao, and Mia Gu.