Tiger Brokers, a Chinese online brokerage firm, is planning a U.S. initial public offering that could raise about $200 million.
Tiger Brokers, which also counts phone giant Xiaomi Corp. as an investor, has appointed banks to arrange the stock offering.
The firm's investors include U.S.-based digital brokerage firm Interactive Brokers Group Inc. and Chinese peer ZhenFund, in addition to Xiaomi and Rogers Holdings. It aims to sell shares as soon as the first quarter of next year.
In July, Tiger Brokers raised a Series C financing round valuing the company at $1.06 billion.