In brief: Chinese online trading platform eyes US listing, $150m raise

• Tiger Brokers, a Chinese online trading platform, filed with the US Securities and Exchange Commission its plans to raise up to US$150 million in a Nasdaq initial public offering.
• Founded in 2014, the company is backed by Chinese smartphone giant Xiaomi and US online brokerage firm Interactive Brokers.
• Tiger Brokers’ prospectus comes two months after its rival, Tencent-backed Futu Holding, filed for a US listing. Futu initially planned to raise US$300 million but later revised its target to US$130 million.
• Both companies said they’ll use the money they’ll raise to expand their businesses.

Source: The Wall Street Journal