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HTFL’s Client Univest Securities, LLC Successfully Closed Zhong Yang Financial Group Limited’s Initial Public Offering of $25.0 Million

June 04, 2022

Ying Li

Guillaume de Sampigny

Zhong Yang Financial Group Limited (the “Company”), 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, on June 3, 2022, announced the closing of its initial public offering of 5,000,000 ordinary shares at a public offering price of $5.00 per share for gross proceeds of $25.0 million before deducting the underwriters’ fees and other estimated offering expenses.

The Company’s ordinary shares began trading on June 1, 2022 on Nasdaq Capital Market under the ticker symbol “TOP”.

Univest Securities, LLC acted as lead book-running manager for the offering; Valuable Capital Limited acted as joint book runner. Hunter Taubman Fischer & Li LLC (“HTFL”) acted as counsel to the underwriters. HTFL is a boutique law firm specializing in corporate, commercial and securities transactions, cross-border financing, immigration and taxation. Our team of lawyers works together so our clients can benefit from astute business experience and sophisticated legal solutions.