MICT Subsidiary Magpie Securities Launches First Product, Magpie Invest – a Mobile-Based Stock Trading App – in Hong Kong
MICT, Inc. has launched its mobile stock trading app Magpie Invest in Hong Kong, targeting the sophisticated retail investor market. This app provides access to global exchanges, real-time market data, and enhanced analytics. MICT has invested nearly HKD 500 million into this initiative and aims to gain regulatory approval in multiple jurisdictions. The launch follows their commitment post-merger with Global Fintech Holdings to introduce advanced fintech solutions. The company operates through its subsidiary, Magpie Securities, and has plans for additional product launches.
- Launch of Magpie Invest provides access to global stock exchanges.
- Investment of nearly HKD 500 million indicates strong financial commitment.
- Aimed at sophisticated retail investors, enhancing market penetration in Asia.
- Plans for regulatory approvals in multiple jurisdictions expand potential user base.
- None.
Magpie Invest is a Proprietary Platform and Technology that Offers Stocks from Global Exchanges, Real Time Market Data, and Analytics
MONTVALE, N.J., Sept. 15, 2021 (GLOBE NEWSWIRE) -- MICT, Inc. (Nasdaq: MICT), (the “Company”) wholly-owned subsidiary Magpie Securities today announces the launch of Magpie Invest, its mobile stock trading app. The Magpie Invest trading app will be available to investors in Hong Kong, and is licensed under Hong Kong SFC, the most highly regarded financial market in China.
The Magpie Invest Trading App is a proprietary platform and technology built by MICT that offers customers access to more financial markets, a wider range of stocks, more market data, enhanced analytics, market information, and an engaging user experience.
“From the moment we merged with Global Fintech Holdings we have been promising our stockholders that we will deliver state-of-the-art fintech solutions to the Asian market, today we have momentously achieved this promise. We have injected nearly half a billion Hong Kong dollars into launching Magpie Securities, a leading SFC-regulated securities business, which is introducing its first product, the mobile trading app, Magpie Invest. We have chosen the Hong Kong market to launch as it is the number-one financial center in Asia, with very sophisticated retail investors,” stated MICT Chief Executive Officer Darren Mercer. “Magpie Invest enables investors in Hong Kong with free real time data and market information and allows its users to trade on exchanges from around the globe. The Magpie Invest launch in Hong Kong is only the beginning of the realization of the Company’s business plan, as we now aim to gain regulatory approval in numerous jurisdictions for investors throughout the world to be able to utilize the trading app.”
About MICT, Inc.
MICT is a Nasdaq-listed, global fintech company founded in 2002. It has three trading platforms operating in several high growth markets: an insurance brokerage, a commodities platform, and now a stock trading platform, Magpie Securities, with the launch of the Magpie Invest Trading App. Subsequently, the launch of Magpie Securities will be announced later in the month of September.
MICT, Inc. (Nasdaq: MICT) operates through its wholly owned subsidiary, GFH Intermediate Holdings Ltd ("GFHI"), GFHI’s various fully owned subsidiaries or VIE structures. GFHI's versatile proprietary trading technology platform is designed to serve a large number of high growth sectors in the global fintech space. Primary areas of focus include online brokerage for equities trading and sales of insurance products in several high-growth foreign markets including Asia.
Forward-looking Statement
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. All statements other than statements of historical fact contained in this press release are forward-looking statements. The words “believe,” “may” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, business prospectus, growth strategy and liquidity. Such forward-looking statements and their implications involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the “Risk Factors” section and elsewhere in the Company’s annual report on Form 10-K for the year ended December 31, 2020, and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, the Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Contact information:
Tel: (201) 225-0190
info@mict-inc.com
FAQ
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