FG Holdings, which provides mortgage loan brokerage services in Hong Kong, filed on Monday with the SEC to raise up to $9 million in an initial public offering.
The Hong Kong-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, FG Holdings would command a market value of $144 million.
Through its operating subsidiaries, FG Holdings provides a fintech platform for private credit mortgage loan and bank mortgage loan brokerage services. The company provides borrowers with mortgage application simulation and access to multiple mortgage loan options from different lenders, matching them to their best loan options and connecting them with potentially suitable loan lenders. FG Holdings has facilitated over $906 million in loans to 528 borrowers since its inception, including $401 million in the fiscal year ended June 30, 2024.
FG Holdings was founded in 2019 and booked $3 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol FGO. The company filed confidentially on December 28, 2023. Revere Securities is the sole bookrunner on the deal.
