Solowin Holdings Announces Closing of Initial Public Offering

Hong Kong, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Solowin Holdings (Nasdaq: SWIN) (the “Company”), one of the few Chinese investor-focused and versatile securities brokerage companies based in Hong Kong, today announced the closing of its initial public offering (the "Offering") of 2,000,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares commenced trading on the Nasdaq Capital Market on September 7, 2023 under the ticker symbol “SWIN”.

The Company received aggregate gross proceeds of US$8.0 million from this Offering, before deducting underwriting discounts and other related expenses. In addition, the Company granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less the underwriting discounts.

EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), acted as sole book-running manager for the Offering. Bevilacqua PLLC acted as counsel to the Company, and Winston & Strawn LLP acted as counsel to EF Hutton in connection with the Offering.

A registration statement on Form F-1 relating to the Offering, as amended, was filed with the Securities and Exchange Commission (the “SEC”) (File Number: 333-271525) and was declared effective by the SEC on September 6, 2023. The Offering was being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, may be obtained from EF Hutton, Attn: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at [e-mail] or telephone at [phone]. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.