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.

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