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Top Chinese Online Brokers Prepare for IPO Showdown in U.S.

  • Companies backed by Jim Rogers, Tencent planning listings
  • Trading overseas stocks became more popular after market crash
Updated on

Two of China’s top online brokers for trading overseas stocks are preparing to face off in the U.S. market.

Tiger Brokers, backed by veteran investor Jim Rogers, is planning a $200 million U.S. initial public offering early next year, people with knowledge of the matter said. Futu Securities, a rival backed by tech tycoon Pony Ma’s Tencent Holdings Ltd., has filed confidentially for a U.S. stock sale that could raise at least $300 million, Bloomberg News reported last week.