Latest news with #fractionalshares
Argaam
11 hours ago
- Business
- Argaam
SIIG deposits post-capital cut fractional shares proceeds
Saudi Industrial Investment Group (SIIG) deposited proceeds from selling fractional shares resulting from its recent capital reduction in the accounts of eligible shareholders. In a statement to Tadawul today, June 19, the company said the fractional shares sale ended on June 1. As many as 24,427 shares were sold at a total of SAR 371,576, at an average price of SAR 15.21 apiece. According to Argaam data, SIIG shareholders recently approved a 10% capital cut to SAR 6.79 billion from SAR 7.54 billion at an extraordinary general meeting (EGM), citing excess capital. Shareholders will be compensated for the cancelled shares through a cash distribution of SAR 754.8 million (SAR 10 apiece).
TechCrunch
23-05-2025
- Business
- TechCrunch
Landa promised real estate investing for $5. Now it's gone dark.
The idea of becoming a real estate investor for as little as $5 may seem too good to be true. And for many users of Landa, a proptech company that promised just that — it has been. Landa emerged from stealth in August 2022, announcing a total of $33 million in funding and a pledge to help everyday Americans access residential real estate investment through fractional shares. CEO Yishai Cohen and former CTO Amit Assaraf founded Landa in 2019 in an effort to make real estate investment more inclusive. The app's only requirements were that users be over age 18 and U.S. residents. They could start investing with just $5, and buy and sell shares as well as see real-time updates on their properties from the Landa app. (Assaraf left the company in December of 2023, according to his LinkedIn profile. He has not responded to requests for comment.) Today, Landa's investment portal site is down and its app is inoperable. Users claim they can't access their funds and haven't been paid dividends in months. The startup is embroiled in litigation, including a lawsuit from its early venture investor Viola. One early user told TechCrunch that Landa stopped paying dividends to him on his shares in January. When he asked Landa about it, they 'punted the question,' he said. 'I repeatedly emailed them about it and just got deflecting answers, nothing real,' the user said. 'Then a few months after that, the app became unusable. It would not open.' Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW The user then asked if he could delete his account, which he had opened in 2021, and sell the shares. But he found Landa had disabled his ability to sell shares. 'They have essentially frozen me out of my funds and just shut down the app,' the user said. 'Where is the money? Why won't they return it to me?' Over 130 complaints have been filed against Landa to the Better Business Bureau, with dozens of people echoing similar allegations. For instance, on May 1, one user who filed such a complaint shared they had invested over $8,000 through Landa and stopped receiving dividends last fall. The user said Landa customer service replied to their emails by saying that the company is 'working on it.' In mid-April, when TechCrunch asked Landa about the issue — including the status of its downed site and whether the company itself had shut down — CEO Cohen said: 'Of course not. The site will be back up.' When asked why the app was not working and why users had not received dividends in months, Cohen's terse reply still seemed to refer to the website, blaming the servers: 'It's unrelated to dividends. It's from our servers. We are on it.' Upon further prodding, Cohen on April 18 shared the following statement: 'We are aware of the issues currently affecting our platform and product, and want to assure all investors that we are actively working to restore full functionality as soon as possible. We have kept investors informed through all updates, including the server access issue. We appreciate the continued support of our investors and resident community, and remain committed to delivering on our vision of making real estate investing accessible to everyone.' Cohen did not respond to our request for a status update on May 20. Investors NFX and 83North did not respond to our multiple requests for comment. Embroiled in a lawsuit It's not just users who are upset with Landa. The company's primary lenders are suing. Viola Credit and L Finance filed a lawsuit in New York State Supreme Court against Landa in November 2024, accusing it of 'numerous defaults' on more than $35 million worth of loans they extended to the company. (Viola is also an investor in Landa through its venture division.) The lenders also accused it of missing property tax payments that led to the forced sale of those properties, neglecting properties, and even failing to collect rents. The lawsuit — first reported by real estate industry publication Bisnow — states that after over a year of attempting to get Landa to honor their commitments, the lenders removed Landa as manager of the homes and appointed an independent property manager and a chief restructuring officer. After further negotiations failed, the creditors later asked the court for, and were granted, an injunction blocking Landa from accessing bank accounts, interfering with their attempts to restructure the business, and reclaiming money they say is owed — including proceeds from property sales. Despite the injunction, the lenders returned to court in January 2025, claiming Landa told tenants to send rent payments to a different bank account not covered by the ruling. They discovered this while making repairs to one property's septic system. They also accused Landa's CEO of trying to sell or refinance some properties. The court ordered Landa to explain itself. Instead, in early March, Landa asked the court for a restraining order against Viola Credit and L Finance, claiming the independent manager was 'installed unlawfully.' Judge Jennifer G. Schecter was not pleased. In March, she ordered both sides to find a solution 'that's good for all of your clients.' She denied Landa's request for an injunction and ordered the company to pay nearly $100,000. A few weeks later, Landa filed a formal countersuit. The case is still pending. Challenging model Landa is just one of several startups that emerged in recent years offering fractional real estate investing. It is also apparently not the only one that has struggled — especially after mortgage interest rates began soaring in 2022. Fintor raised millions of dollars before seemingly pivoting to offer an 'AI Agent to automate finance and real estate operations with human level performance.' Dallas-based Nada, which offered index-like real estate investment products called 'Cityfunds,' allowing non-accredited investors to buy into a city's home equity market with as little as $250, also appears to have pivoted. Its website now promotes a new tagline: 'Access home equity to finance anything.' Arrived was perhaps the highest-profile of the bunch — and the only one that seems to be actively operating under the same model. In May of 2022, TechCrunch reported that Arrived raised $25 million in a Series A funding round including Bezos Expeditions, to allow people to buy shares in single-family rentals with 'as little as $100.' According to its website, the startup has to date paid out over $13 million in dividends and interest and has 766,000 registered investors. As for those people who invested with Landa, the future of their money appears uncertain. As of May 23, Landa's investor portal website still redirects to a 'come-back-soon' maintenance message. Image Credits:Landa
Yahoo
19-05-2025
- Business
- Yahoo
Longbridge now supports US fractional shares trading - own US stocks for just USD 1*
SINGAPORE, May 19, 2025 /PRNewswire/ -- Longbridge Securities Singapore ("Longbridge Singapore") announced the launch of US fractional shares trading service. Investors can now build positions in US stocks like Apple and Tesla with investments as low as USD 1, significantly lowering the barrier to entry while enabling more flexible portfolio strategies. Fractional shares trading: making investing accessible Traditional stock markets have long imposed whole-share trading requirements, where purchasing a single share of high-priced stocks often requires hundreds or even thousands of dollars, raising the entry threshold for investors with limited capital. US fractional shares trading breaks through these limitations by allowing investors to buy stocks by dollar amount or fractional shares. For long-term investors, fractional trading provides more flexible asset allocation strategies, enabling them to adjust their portfolios without being constrained by stock prices or whole-share trading rules. Furthermore, fractional shares trading helps investors better manage market fluctuations. Investors can build positions gradually based on their risk tolerance and market conditions, making smarter use of their capital. As investing becomes increasingly accessible worldwide, fractional shares provide beginners with an easy entry point into the US market, while allowing experienced investors to fine-tune their strategies with greater precision - further enhancing capital flexibility. Invest in US stocks for as low as USD 1 with Longbridge Longbridge's US fractional shares trading service, offered by Longbridge Singapore, covers a wide range of popular US stocks. Investors can easily explore eligible stocks through the "Classification" section under the "Market" tab in the Longbridge App, or identify supported stocks by looking for the "fractional shares" icon on the stock detail page. The Longbridge App offers two flexible order placement options: investors can either specify the fractional share quantity or input the dollar amount they wish to invest. The system automatically calculates the corresponding number of shares based on the current market price, making it easy to align investments with individual budgets. To further enhance value, all US fractional share trades on Longbridge are commission-free, helping investors reduce costs and maximize potential returns. For seamless execution, fractional share trading is available exclusively during regular US market hours. A Longbridge spokesperson stated, "We believe fractional shares trading lowers the entry barrier to the US stock market and enables more precise asset allocation. Whether you're a first-time investor or a seasoned trader with diversified needs, fractional trading offers a flexible and efficient way to tailor your portfolio to your financial goals." In addition, Longbridge offers lifetime $0 commission for Hong Kong and US stocks, further reducing trading costs and supporting long-term wealth growth for investors. For more details about our US fractional shares trading, please visit: or contact Longbridge customer service hotline at: +65 6330 3030. About Longbridge Long Bridge Securities Pte. Ltd. is a licensed entity regulated by the Monetary Authority of Singapore (MAS) under License number CMS101211, holding a capital market service license and operating as an exempt financial adviser. Longbridge is dedicated to driving financial technology innovation, enabling individuals to benefit from lower thresholds and costs, thereby enhancing the overall global investment experience. Note: *Only applicable to selected US stocks. Risk Disclosure Long Bridge Securities Singapore Pte. Ltd. ("Longbridge Singapore") endeavours to obtain the best available terms for your orders in accordance with its Best Execution Policy. However, due to market conditions and the nature of fractional share trading, execution speed and price may differ from whole-lot trades, and Longbridge Singapore does not guarantee execution at the best available market price. Generally, stocks with higher liquidity are more likely to be successfully traded in fractional shares. Fractional share orders currently support only limit and market orders. Other order types such as conditional orders and grid orders are not supported. Trading in U.S. fractional shares is available only during regular U.S. market hours, from 9:30 AM to 4:00 PM (ET), and on half-trading days, from 9:30 AM to 1:00 PM (ET). Short selling is not permitted for fractional shares. Financing features, including buying power and margin interest rates, are the same as those applicable to whole-lot trades. Modifications to submitted fractional share orders are not supported; you must cancel and re-submit a new order if you wish to make changes. Mandatory corporate actions such as cash dividends and stock splits are supported for fractional shares. However, voluntary corporate actions, including rights issues, takeovers, or cash offers, are not supported. In the event of stock splits or reverse splits, you may receive fractional shares as part of the adjustment process. Please note that fractional shares may not carry the same shareholder rights as whole shares (e.g., voting rights). You should be aware of the limitations and risks associated with fractional share trading, and assess whether such trades are suitable for your individual investment objectives. If in doubt, you are encouraged to seek advice from an independent financial adviser. Important Notice Long Bridge Securities Pte. Ltd. (Co. Reg. No. 202111825D) ("Longbridge Singapore") provides an execution-only service. The information provided in this article is intended for general informational purposes only and should not be interpreted as investment advice, an offer, or a recommendation to buy or sell any financial instruments or securities. This content does not consider your individual holdings, financial circumstances, or investment objectives and may not be suitable for all investors. You should review the relevant promotional terms and consult an independent financial adviser if you are unsure about the suitability of any investment. All investments carry risk, including the potential loss of principal. Market conditions, including volatility and liquidity, may impact the execution of trading strategies or features. Longbridge Singapore makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss or damage (whether direct, indirect, or arising from negligence) resulting from reliance on or actions taken based on this information. Please refer to the relevant terms and conditions on our website for more details. This advertisement has not been reviewed by the Monetary Authority of Singapore. View original content: SOURCE Long Bridge Securities Pte. Ltd. Sign in to access your portfolio
