Tencent-Backed Broker Chases Growth Overseas After China Rebuke
- Trading platform Futu weighing Plan B in case of US delisting
- Senior China central bank official questioned business model
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Tencent Holdings Ltd.-backed Futu Holdings Ltd. plans to push deeper overseas to diversify its growth and is considering alternatives in case its New York listing is revoked, as China’s crackdown on private enterprise catches up with internet trading firms.
The online broker - which operates like Robinhood Markets Inc. in the US - is seeking to expand its presence in Hong Kong, California, Singapore and Australia while tapping into new markets, chief financial officer Arthur Chen said in an interview.