3 Aug. 2020

Online financial services provider Snowball is actively looking for new international investment opportunities for its clients after the successful US Securities and Exchange Commission (SEC) IPO and listing of the Chinese electric vehicle maker Lixiang Automotive (Li Auto).

Snowball joined hands with Goldman Sachs, Morgan Stanley, UBS and others to serve as underwriters for the IPO, which successfully raised $US1.1b of expansion capital for the fast-growing Beijing based carmaker. Li Auto now trades on the NASDAQ under the stock code LI. Its shares were issued at $US11.50 each and closed on its first day of trading at $US16.46.

Snowball is an internet based financial service provider focused on investment solutions, which has the backing of heavyweight investors including Ant Financial (part of Alibaba Group), Sequoia Capital, RenRen and Morningside. Its fast-growing parent company Snowball Group offers clients a low-cost one-stop-shop investment platform, all accessible from desktop and a mobile app.

With a professional perspective and prudent attitude, Snowball has been selecting quality investment targets in Hong Kong and US stock markets for users and institutional partners, as well as premium assets that connect investors with overseas markets.

Since Snowball launched the one-click IPO subscription service it has supported the listings on the Hong Kong market of star companies like Meituan Dianping, Xiaomi Corp. and Haidilao International Holding Ltd.

About Snowball

Snowball is a leading online equities company utilising the latest innovative technology to provide investors access to global securities listed on major Stock Exchanges including Hong Kong (SEHK), New York Stock Exchange (NYSE), NASDAQ and other markets. Snowball is part of the Snowball Group which is a leading investment platform with over 38 million subscribers and backed by global investors such as Ant Financials and Sequoia Capital.

Snowball’s fast growth and smart technology has seen it included in KPMG’s Top 50 list of leading Fintech companies in China in 2018 and 2019.