Futu Holdings changed its ticker symbol to “FUTU” from “FHL”

HONG KONG, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Futu Holdings, a leading tech-driven online brokerage platform in China, today announced that the Company's ticker symbol on the Nasdaq Global Select Market has changed to “FUTU” from “FHL”. Trading under the new ticker symbol began on Thursday, October 17, 2019.

No actions are needed from FUTU’s current shareholders relative to the ticker symbol change.

Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, commented, “We are pleased that the ‘FUTU’ ticker finally became available given that it clearly more appropriately reflects our brand. Our company’s name has several meanings that reflect the Company’s philosophy. In Chinese, “Futu” means “the road to wealth;” in English, ‘F’ and ‘T’ represent Fortune and Treasure, while “Futu” is also the abbreviation of "For U, To U," which reflects our company’s values and mission of always putting our customers first.”

A few months ago, Futu reached a new milestone in its offerings on wealth management solutions by launching Money Plus, the Company’s online mutual fund distribution platform. Investors can now seamlessly integrate their mutual fund account with a brokerage account, managing stock trading and wealth management all at once on Futu’s platform. The goal of this integration is to cater to investors’ increasing needs for broader wealth management as they accumulate more wealth and become more financially sophisticated. Money Plus now offers a variety of money market, fixed income and equity funds to provide more rewarding and diverse investment services for all clients. With Money Plus, Futu continues to leverage on its advanced technology and cost-effective brokerage services to expand the business as a premium, one-stop asset allocation platform. 

About Futu Holdings Limited

Futu Holdings Limited (FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage platform. The Company primarily serves the emerging affluent Chinese population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platform, Futu NiuNiu, a highly integrated application accessible through any mobile device, tablet or desktop. The Company’s primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options and exchange-traded funds, or ETFs, across different markets. The Company enhances the user and client experience with market data and news, research, as well as powerful analytical tools, providing them with a data rich foundation to simplify the investing decision-making process. The Company has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders.

IPOs this week : Sept 2 - 6, 19 (wk 36)

More crickets in the IPO market next week.

The quiet period expiration expires on Immode (NASDAQ:INMD) on September 3, while IPO share lockups arrive on Shockwave Medical (NASDAQ:SWAV) on September 3 and Futu Holdings (NASDAQ:FHL) on September 4.

The Asia IPO scene is just as inactive as the U.S. amid trade war concerns and Hong Kong protests, but one company wading into the IPO waters bravely is Alibaba (NYSE:BABA)-backed Megvii Technology. The AI services startup saw revenue triple to 949M yuan ($132M) during the first half of the year. Lenovo Group (OTCPK:LNVGY) and China Mobile (NYSE:CHL) are also backers of Megvii.

IPOs this week : April 1 - 5, 19 (wk 14)

Expected IPO pricings:

• Ruhnn Holding (RUHN) on April 2; 
• Silk Road Medical (SILK), NGM Biopharmaceuticals (NGM) and Tradeweb Markets (TW) on April 3.

IPO lockup expirations:

• Upwork (NASDAQ:UPWK) and Guardant Health (NASDAQ:GH) on April 1; 
• Kodiak Sciences (NASDAQ:KOD) on April 2; 
• Elastic (NYSE:ESTC) on April 3.

IPO quiet period expirations:

• Shockwave Medical (NASDAQ:SWAV) on April 1 and 
• Futu (NASDAQ:FHL) on April 2.

IPOs this week : March 4 - 8, 2019

Things are starting to get a little more interesting in the IPO market after a snail's pace for most of 2019. Lyft (LYFT) filed for its IPO, while Peloton (PTON) and Chinese coffee chain Luckin are both moving in that direction. Lyft is reportedly hoping to draw a valuation of between $20B and $25B.

IPOs expected to price
This week, IPO pricings are anticipated for

• Shockwave Medical (SWAV) on March 6 and 

• Futu (FHL) on March 7. 

IPO quiet period expirations

There are also quiet period expirations for

• Alector (NASDAQ:ALEC) on March 4 and 

• both Harpoon Therapeutics (NASDAQ:HARP) and Gossamer Bio (NASDAQ:GOSS) on March 5.