FUTU Stock: Over 8% Decrease Pre-Market Explanation

By Amit Chowdhry ● April 20, 2021
  • The stock price of Futu Holdings Ltd (NASDAQ: FUTU) fell by over 8% pre-market. This is why it happened.

The stock price of Futu Holdings Ltd (NASDAQ: FUTU) fell by over 8% pre-market. Investors are responding negatively to 

Futu Holdings Limited (Nasdaq: FUTU) announcing the commencement of the offering of 9.5 million American depositary shares (“ADSs”), each representing 8 Class A ordinary shares of Futu. And Futu intends to grant the underwriters in the ADS Offering a 30-day option to purchase up to an additional 1.425 million ADSs.

BofA Securities and Haitong International Securities company limited are acting as joint bookrunners for the ADS Offering.

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