Wednesday, 18 October 2017

Online micro-lender Qudian could be biggest Chinese IPO in US this year



A Chinese online micro-lender is set for the biggest Chinese debut on a US stock exchange this year.

 
Qudian priced its US initial public offering at $24 per share, giving it a valuation of about $900m (£682m).


The company focuses on small, short-term consumer loans for predominantly young customers.


In its listing documents, the company said it currently had 47.9 million registered users and 5.6 million active borrowers.


Qudian is a digital-only platform, which issues most of its loans through its mobile platform.
The loans average between $136 and $184, with approval usually granted within seconds.


Qudian recorded a profit of $143.6m for the first half of 2017.



BBC      News.