MMTec Launches Investment Banking Service

Beijing-based online securities trading platform said the new business line represents an added value that complements its current business focus and its future goals.
Binwei WangJun 22,2019,06:55

Chinese online broker MMTec Inc. (Nasdaq: MTC) announced it already opened a new financial advisory and investment banking business line to the roster of services it offers to its customers after the market closed. Shares of MMTec rose nearly 3 percent, close at $9.15 on Friday.

The Beijing-based online securities trading platform said this additional business line helps itself to be an investment and listing guidance service provider for offerings of the PRC-based high-value fast-growth enterprises on the United States capital markets.

MMTec said its expansion is based on consideration of the current economic and market conditions in China and the United States, as well as of various growth trends in those respective markets. Particularly, the company said in the reporter that as a result of the China economic downturn, high-growth companies were assigned low P/E ratios, and a number of China-based companies consistently expressed their interest in pursuing US market listings as their preferred strategies overseas.

Looking forward, MMTec said as the business growth needs change, the company may determine to increase the size and distribution of its support team in the future. And it currently maintains professional service teams in China and the United States.