Plutus Financial Group, a Hong Kong-based provider of securities and asset management services, filed on Wednesday with the SEC to raise up to $11 million in an initial public offering.
The company plans to raise $11 million by offering 2.1 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Plutus Financial Group would command a market value of $71 million.
Plutus Group provides financial services through its primary Hong Kong operating subsidiaries, Plutus Securities and Plutus Asset Management. As a licensed Hong Kong securities broker, Plutus Securities provides a range of services, including securities dealings and brokerage services, margin financing services, and underwriting and placing services. Plutus Asset Management mainly offers asset management services and investment advisory services.
Plutus Financial Group was founded in 2018 and booked $2 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol PLUT. Pacific Century Securities and R.F. Lafferty & Co. are the joint bookrunners on the deal.
