Business
MMTEC, INC. Announces Expansion of Its Business by Adding Investment Banking Service Line
BEIJING, June 21, 2019 /PRNewswire/-- MMTEC, Inc. (Nasdaq: MTC) ("MMTec" or the "Company") announced today that it had added a new financial advisory and
About this update from Mmtec, Inc.
[{"type":"text","content":"BEIJING, June 21, 2019 /PRNewswire/-- MMTEC, Inc. (Nasdaq: MTC) (\"MMTec\" or the \"Company\") announced today that it had added a new financial advisory and investment banking business line to the roster of services it offers to its customers. \nThe underlying objective of this additional line is to help the Company to position itself as an investment and listing guidance service provider for offerings of the PRC-based high-value fast-growth enterprises on the US capital markets. The management believes that this expansion represents an added value that complements the Company's current business focus and its future goals. \nThe Company determined to pursue this expansion following its consideration of the current economic and market conditions in China and the US as well as of various growth trends in those respective markets. Particularly, the Company noted that (1) as a result of the PRC economic downturn, high-growth companies were assigned low P/E ratios, and (2) a number of PRC-based companies consistently expressed their interest in pursuing US market listings as their preferred strategies overseas. MMTec's early venture into this area showed positive market reception and feedback which allowed the Company to continue building on the strengths of this business line. \nUnder this new business line, the Company anticipates providing financial advising and investment banking services, including, among others, investments, restructuring, IPO and secondary offering guidance, and venture funding advice, for PRC-based small and medium-sized enterprises from various industries that seek access to the US capital markets. Specifically, the Company intends to assist its customers in financings and capital formation at different stages of their growth and development. \nThe Company maintains professional service teams in China and the US, offering extensive experience in domestic and international capital formation, restructuring, M&A, and related market knowledge. As the business growth needs change, the Company may determine to increase the size and distribution of its support team in the future. \nABOUT MMTEC, INC.\nHeadquartered in Beijing, China, our Company develops and deploys a series of platforms, including the ETN Counter Business System, the PTN Private Fund Investment Management System, the Personal Mobile Transactio...