Hong Kong China, June 01, 2022 (GLOBE NEWSWIRE) — Zhong Yang Financial Group Limited (the “Company”) (NASDAQ: TOP), a fast-growing online brokerage firm located in Hong Kong specializing in the trading of local and foreign equities, futures, options products and other financial services, today announced the pricing of its initial public offering (the “Offering”) of 5,000,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $5.00 per share for total gross proceeds of $25,000,000 before deducting underwriting discounts and offering expenses. The Offering is being conducted on a firm commitment basis. The Ordinary Shares have been approved for listing on The Nasdaq Capital Market and are expected to commence trading today, June 1, 2022, under the ticker symbol “TOP”.
The Company has granted the underwriters an option, exercisable one or more times in whole or in part, to purchase up to 750,000 additional Ordinary Shares at the initial public offering price, less underwriting discounts, within 45 days from the closing date of the Offering to cover over-allotments, if any.
The Offering is expected to close on June 3, 2022, subject to customary closing conditions.
Univest Securities, LLC is acting as lead book-running manager for the offering; Valuable Capital Limited is acting as joint book runner. Ortoli Rosenstadt LLP is acting as counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as counsel to the underwriters. Stevenson, Wong…
