U.S. Figure Technologies poised to go public…"Expected to raise $790 million in IPO"

Figure Technologies, a blockchain-based lending firm seeking a Nasdaq listing in the U.S., is expected to raise $790 million (about 1.1 trillion won) in this initial public offering (IPO).

Bloomberg reported on the 11th that "Figure Technologies will raise $787.5 million through the listing," and "it is expected to trade at a price 36% higher than the offering price after the IPO." Bloomberg added that "Figure Technologies' market capitalization is about $5.3 billion based on the disclosed number of shares issued."

Figure Technologies posted revenue of $190 million (about 260 billion won) in the first half of this year. Net income for the same period was $29.1 million, an increase of more than 86% from $15.6 million a year earlier.