Business

Chinese Fintech Company Eyes IPO In U.S.

Chinese fintech company Qudian.com has submitted its prospectus for an initial public offering to the U.S. Securities and Exchange Commission and it aims to raise up to USD750 million.

The prospectus reveals that Qudian.com will be listed on New York Stock Exchange with stock code "QD".

Over a three-month period ended March 31, 2017, Qudian.com realized total trading value of about CNY16.7 billion, which was about USD2.4 billion, covering 4.8 million active online borrowers.

Morgan Stanley, Credit Suisse, Citigroup, China International Capital Corporation Limited, UBS Investment Bank, Stifel Nicolaus & Company, and Needham & Company are underwriters to the offering.

Qudian.com plans to use the raised capital for strategic acquisitions, marketing, and borrower engagement.

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