Plutus Financial Group (PLUT) to Raise $10 Million in IPO

Plutus Financial Group (PLUT) plans to raise $10 million in an IPO on Wednesday, February 5th, IPO Scoop reports. The company will be issuing 2,100,000 shares at a price of $4.00-$6.00 per share.

In the last twelve months, Plutus Financial Group generated $2.3 million in revenue and had a net loss of $1.2 million. The company has a market cap of $70.5 million.

R.F. Lafferty and Revere Securities acted as the underwriters for the IPO.

Plutus Financial Group provided the following description of their company for its IPO: “We are a holding company whose Hong Kong operating subsidiaries, Plutus Securities and Plutus Asset Management, provide financial services. (Incorporated in the Cayman Islands)  Plutus Securities is a licensed Hong Kong securities broker whose services include brokerage services and margin financing services as well as underwriting and placement services. Plutus Asset Management provides asset management services and investment advisory services. Note: Net loss and revenue are in U.S. dollars for the 12 months that ended June 30, 2024. (Note: Plutus Financial Group filed its F-1 on Jan. 31, 2024, and disclosed the terms for its IPO – 2.1 million shares at a price range of $4.00 to $6.00 to raise $10.5 million, if priced at the $5.00 mid-point of its range.)  “.

Plutus Financial Group was founded in 2018 and has 10 employees. The company is located at 8/F, 80 Gloucester Road Wan Chai, Hong Kong (852) 2968 1192 and can be reached via phone at (852) 2968 1192 or on the web at http://www.plutusfingroup.com/.