Hong Kong mortgage brokerage service company FG Holdings (FGO.US) is planning to price its IPO at $4-5 per share, aiming to raise $9 million.

Hong Kong company FG Holdings (FGO.US), which focuses on providing mortgage brokerage services, has submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission, with a target fundraising amount of up to $9 million. The company plans to issue 2 million shares of stock in a price range of $4 to $5 per share. Based on the midpoint of the proposed price range, the company's market value would reach $144 million. FG Holdings has built a financial technology platform through its operating subsidiary, focusing on private credit mortgage loans and bank mortgage brokerage services. The platform not only provides mortgage loan application simulation services for borrowers, but also displays a variety of loan options from multiple lenders, aiming to help borrowers find the most suitable loan options and connect them with the right lenders. Since its establishment, FG Holdings has successfully provided loans totaling over $906 million to 528 borrowers, including $401 million in loans provided in the fiscal year ending June 30, 2024. Founded in 2019, FG Holdings generated $3 million in revenue in the 12 months ending June 30, 2024. The company plans to list on the Nasdaq under the stock symbol "FGO" to further expand its business. It is worth noting that FG Holdings submitted a secret IPO application on December 28, 2023, and this public disclosure marks an important step in its listing process. Revere Securities, as the sole book manager for the transaction, will help FG Holdings complete this milestone financing plan.