BUZZ-China's UP Fintech falls further after stock offering prices

Reuters10-23

** U.S.-listed shares of Chinese brokerage firm UP Fintech

down 3.6% premarket to $6.22 after follow-on offering prices ** TIGR sells 15 mln American Depositary Shares (ADSs) at $6.25 for gross raise of ~$94 mln

** Shares on Tues tumbled 13.3% to close at $6.45 after co launched offering to strengthen its capital base and fund business development initiatives

** Co has ~158 mln ADSs outstanding for ~$1 bln market cap, per LSEG data

** Through Tues, shares have gained ~75% over the past month, fueled by China's stimulus measures to boost its economy

* * Deutsche Bank, CICC and US Tiger Securities joint bookrunners for offering

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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