- Represents First Step of Strategic
Expansion into Southeast Asia Region -
HONG KONG, Sept. 30, 2020
/PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company")
(NASDAQ: LGHL), operator of an all-in-one trading platform that
offers a wide spectrum of products and services with a focus on
Chinese investors, today announced its plans to expand its service
offerings into Vietnam.
Lion will introduce a Vietnamese-language version of its CFD
trading platform, Lion Brokers Pro, in October 2020. The Company currently has a team in
place in Ho Chi Minh City to
support the expansion and will engage local enterprises as part of
promotion and marketing efforts. Lion expects to begin generating
revenue from the business expansion in the fourth quarter of
2020.
"This move marks a milestone moment in the growth of Lion as our
first foray out of the greater China region as part of our larger strategic
expansion plan," said Mr. Chunning (Wilson)
Wang, CEO of Lion, "Vietnam's fast-growing economy and large
population of young people makes Vietnam an attractive market for our trading
and investment services and will increase and diversify our
potential customer base. While China remains our core market, we also believe
there are strong growth opportunities in Southeast Asia. As we continue to pursue
opportunities for business growth and regional expansion, we remain
committed to delivering our services and developing innovative
products to support the needs of our customers."
In addition to Vietnam, Lion is
targeting Singapore in the next
tranche of its strategic plan to expand in Southeast Asia. The Company established a
subsidiary and office in Singapore
earlier in 2019 and applied for a capital markets services license
with the Monetary Authority of Singapore. Approval is expected in the first
half of 2021.
About Lion
Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one
trading platform that offers a wide spectrum of products and
services with a focus on Chinese investors. Through its
state-of-the-art technology, Lion offers contract-for-difference
(CFD) trading, insurance brokerage, futures brokerage, and
securities brokerage on its platform, which can be accessed through
applications available on the iOS, Android, Windows, and macOS
systems. Lion's customers are well-educated and affluent Chinese
individual investors residing both inside and outside the PRC as
well as institutional clients in Hong
Kong. Additional information may be found at
http://ir.liongrouphl.com.
Forward-Looking Statements
This press release contains, "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Lion's actual results may
differ from their expectations, estimates and projections and
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as "expect,"
"estimate," "project," "budget," "forecast," "anticipate,"
"intend," "plan," "may," "will," "could," "should," "believes,"
"predicts," "potential," "might" and "continues," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Lion's expectations with respect to future performance
and anticipated financial impacts of the Business combination, the
satisfaction of the closing conditions to the business combination
and the timing of the completion of the business combination. These
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from expected results. Most of these factors are outside the
control of Lion and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
inability to maintain the listing of the post-acquisition company's
ADSs on NASDAQ following the business combination; (2) the risk
that the business combination disrupts current plans and operations
as a result of the announcement and consummation of the
transactions described herein; (3) the inability to recognize the
anticipated benefits of the business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably and retain
its key employees; (4) costs related to the business combination;
(5) changes in applicable laws or regulations; (6) the possibility
that Lion may be adversely affected by other economic, business,
and/or competitive factors; and (7) other risks and uncertainties
to be identified in the proxy statement/prospectus relating to the
business combination, including those under "Risk Factors" therein,
and in other filings with the Securities and Exchange Commission
("SEC") made by Lion. Lion cautions that the foregoing list of
factors is not exclusive. Lion cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Lion does not undertake or accept any obligation
or undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based, subject to applicable
law.
Contacts
Lion Group Holding
Tel: +852 2820 9011
Email: ir@liongrouphl.com
ICR, LLC
William Zima
Tel: +1 203 682 8233
Email: ir@liongrouphl.com
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SOURCE Lion Group Holding Ltd.