US Stock Market Move | Huatong Financial (WTF.US) is priced at $4 per share to raise $18 million on its first day of trading, surging nearly 400%.

Watson Financial, a securities brokerage and financial services company based in Hong Kong, issued 4.4 million shares at a price of $4 per share, raising approximately $18 million in total with the lower end of the pricing range set at $4 to $6 per share. The latest issuance volume indicates that the company actually issued about 600,000 fewer shares than originally expected. It is reported that Watson Financial successfully debuted on the US stock market at a price of $4 per share on April 1st, with the stock price skyrocketing on the first day of trading. As of the close of trading on April 1st, the stock price of Watson Financial surged 396.25% to $19.85, giving the company a total market value of approximately $957 million. Records show that Watson Financial mainly provides securities brokerage and financial technology services through its Hong Kong subsidiary, Watson Securities International (WSI), and Watson Technology International (WTI). WSI offers brokerage services for securities listed on the HKEX, as well as software licensing and related support services. Since September 2023, WTI has started providing software licensing and related support services, focusing on professional development in business operations and service fields. Watson Financial (Waton Financial) successfully listed on the Nasdaq market in the US on April 1st with the stock symbol "WTF". Cathay Securities acted as the exclusive bookrunner for this issuance transaction.