Waton Financial, a Hong Kong-based securities brokerage and financial services firm, filed on Friday with the SEC to raise up to $40 million in an initial public offering.
Waton Financial is a provider of securities brokerage and financial technology services primarily through its Hong Kong subsidiaries, Waton Securities International (WSI) and Waton Technology International (WTI). WSI provides securities brokerage services for securities listed on the Hong Kong Stock Exchange and software licensing and related support services. Since September 2023, WTI has provided software licensing and related support services in order to focus on the expertise of operations and service areas.
Waton Financial was founded in 1989 and booked $10 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol WTF. Cathay Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
