Solowin Holdings, Ltd.

General Information

(Incorporated in the Cayman Islands)

Solowin is an exempted limited liability company incorporated under the laws of the Cayman Islands on July 23, 2021. As a holding company with no material operations of its own, Solowin conducts its operations primarily through its wholly owned subsidiary, Solomon JFZ, a limited liability corporation incorporated in Hong Kong. 

Solomon JFZ is one of the few Chinese investor-focused versatile securities brokerage companies in Hong Kong. It offers a wide spectrum of products and services through its advanced and secured one-stop electronic platform. Solomon JFZ currently is primarily engaged in providing (i) securities related services, (ii) investment advisory services, (iii) corporate consultancy services and (iv) asset management services to the customers. It is licensed with the Hong Kong Securities and Futures Commission (“HKSFC”) and a participant of the Hong Kong Stock Exchange to carry out regulated activities including Type 1 (Dealing in Securities), Type 4 (Advising on Securities), Type 6 (Advising on Corporate Finance) and Type 9 (Asset Management). Solomon JFZ strictly follows the requirements of the HKSFC for internal regulation and risk control to maximize the safety of investors’ assets. It provides online account opening and trading services via its Front Trading and Back-office Clearing systems, in conjunction with Solomon Pro – a highly integrated application accessible via any mobile device, tablet, or desktop, all of which are licensed from third parties. With strong financial and technical capabilities, Solomon JFZ has been providing brokerage services to global Chinese investors residing both inside and outside the PRC and institutional investors in Hong Kong, and have been recognized and appreciated by users and industry professionals.

Solomon JFZ’s trading platform allows investors to trade over 10,000 listed securities and their derivative products listed on the Hong Kong Stock Exchange (HKSE), New York Stock Exchange (NYSE), Nasdaq, Shanghai Stock Exchange and Shenzhen Stock Exchange. In addition, it provides Hong Kong IPO underwriting, Hong Kong IPO Public Offer application and International Placing subscription, Hong Kong IPO margin financing services, Hong Kong Pre-IPO securities trading and US IPO subscription. Hong Kong IPO margin financing services refer to loans offered by a licensed financial institution to clients for the purpose of purchasing securities in an IPO before the issuers are listed on the Hong Kong Stock Exchange. The loan, commonly referred to as an IPO loan, enables clients to invest more than the required deposit of 5% or 10% of funds. The loan, which is short-term, interest-bearing, typically covers 90% or 95% of the investment amount and is repaid right after the allotment result release. Once the investor is allotted shares cost over the required deposit and a part of loan is used for the shares, the shares can be sold and the proceeds are utilized to repay the loan of the financial institution, with any remaining balance going to the investor. Our customers may also use Solomon JFZ’s platforms to trade various listed financial products, such as ETFs, Warrants and Callable Bull/Bear Contracts. Beside securities related service, Solomon JFZ also offers asset management services as an investment manager. Our High-Net-Worth customers may also subscribe private fund products through Solomon JFZ.

Our clients are mostly Chinese investors residing in Asia as well as institutional clients in Hong Kong, Australia and New Zealand. As of March 31, 2023, we had more than 20,000 users, including more than 15,400 clients who are users and have opened trading accounts with Solomon JFZ. We classify those who have registered on Solomon JFZ’s platform as users and those users who have opened accounts on Solomon JFZ’s platform as clientsWe currently have over 1,500 active clients, who have assets in their trading accounts.

As of March 31, 2023, Solomon JFZ’s operations mainly consisted of four business segments: (i) securities related services, (ii) investment advisory services, (iii) corporate consultancy services and (iv) asset management services to the customers.

Note: Revenue and net income are in U.S. dollars for the fiscal year that ended March 31, 2023.

(Solowin Holdings, Ltd. downsized its IPO by 20 percent at pricing to 2.0 million shares – down from 2.5 million shares – and priced the IPO at $4.00 – the assumed IPO price, which was also the low end of its $4.00-to-$6.00 range – and raised $8.0 million, according to the company’s pricing announcement on Sept. 6, 2023.) 

(Note: Solowin Holdings, Ltd. cut the size of its IPO by 33 percent to 2.5 million shares – down from 3.75 million shares – and kept the assumed IPO price at $4.00 on a price range of $4.00 to $6.00 to raise $10 million, according to an F-1/A filing dated July 7, 2023. The company filed its F-1 on April 28, 2023, without disclosing terms. Its original terms were 3.0 million shares on a $4.00-to-$6.00 price range to raise $15.0 million, according to an F-1/A filing dated May 22, 2023. The deal’s size was increased to 3.75 million shares at $4.00 to $6.00 to raise $18.75 million, in an F-1/A filing dated June 15, 2023. Solowin Holdings had submitted confidential IPO documents to the SEC on Dec. 23, 2022.)

Industry: Securities Brokerage
Employees: 16
Founded: 2016
Contact Information
Address Room 1910-1912A, Tower 3, China Hong Kong City 33 Canton Road, Tsim Sha Tsui, Kowloon Hong Kong (852)3428-3893
Phone Number (852)3428-3893
Web Address
View Prospectus: Solowin Holdings, Ltd.
Financial Information
Market Cap $70.5mil
Revenues $4.45 mil (last 12 months)
Net Income $1.35 mil (last 12 months)
IPO Profile
Symbol SWIN
Exchange NASDAQ
Shares (millions): 2.0
Price range $4.00 - $4.00
Est. $ Volume $8.0 mil
Manager / Joint Managers EF Hutton
Expected To Trade: 9/7/2023
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change