Solowin Holdings, a Hong Kong-based online brokerage and investment advisory firm, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The company operates through its wholly-owned subsidiary Solomon JFZ, a securities brokerage in Hong Kong that offers various products and services through a one-stop electronic platform. Solomon JFZ primarily provides securities-related services, investment advisory services, corporate finance services, and asset management services. The company's clients are mostly Chinese investors residing in Asia, as well as institutional clients in Hong Kong, Australia, and New Zealand.
The Hong Kong-based company was founded in 2017 and booked $2 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol SWIN. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
