FG Holdings (FGO) Plans to Raise $9 Million in May 26th IPO

FG Holdings (FGO) expects to raise $9 million in an initial public offering (IPO) on the week of May 26th, IPO Scoop reports. The company will be issuing 2,000,000 shares at a price of $4.00-$5.00 per share.

In the last twelve months, FG Holdings generated $2.7 million in revenue and $900,000 in net income. FG Holdings has a market cap of $144 million.

American Trust Investment Services and Revere Securities acted as the underwriters for the IPO.

FG Holdings provided the following description of their company for its IPO: “We are a holding company whose Hong Kong subsidiaries run a FinTech platform that provides mortgage loan brokerage services. (Incorporated in the British Virgin Islands) We offer – through our operating subsidiaries – a FinTech platform for mortgage loan brokerage services available through private credit and banks. The company gives borrowers mortgage application simulation and access to several mortgage loan options from various lenders.  Since our inception in 2019, FG Global has helped match 528 borrowers with more than $906 million in loans. That loan volume includes $401 million for the fiscal year that ended June 30, 2024. Note: Net income and revenue are for the 12 months that ended June 30, 2024. (Note: FG Holdings filed its F-1 on Nov. 18, 2024, and disclosed the terms for its small-cap IPO: 2.0 million shares at a price range of $4.00 to $5.00 to raise $9.0 million. Background: FG Holdings submitted confidential IPO documents to the SEC on Dec. 28, 2023.) “.

FG Holdings was founded in 2019 and has 15 employees. The company is located at Unit 1002, 10/F Tai Sang Bank Building 130-132 Des Voeux Road Central, Central Hong Kong SAR and can be reached via phone at +852 2398-9100 or on the web at https://ir.fundergo.com/investors/.