Yirendai debuts at US$10 on NYSE
Print Edition
YIRENDAI opened flat in its trading debut at the New York Stock Exchange yesterday as the first Chinese peer-to-peer lending platform to go public in the United States.
Yirendai’s initial public offering, the last one of the year on US exchanges, raised US$75 million after its American Depository Shares were priced at US$10 each, the midpoint of the expected range of US$9-11.
The shares were trading at the IPO price after about 20 minutes, valuing the company at about US$1.15 billion.
“We are so excited as the listing is a big event for us and China’s Internet finance industry,” said Tang Ning, executive chairman and founder of Yirendai.
P2P lending refers to lending between individuals, or peers, without going through a traditional financial intermediary such as a bank.
The joint bookrunners for the offering are Morgan Stanley, Credit Suisse, China Renaissance and Needham.
Yirendai has ambitions to set up a benchmark for the industry via its IPO.
The company, which has about 6.7 million registered users, says it facilitated US$984 million of loans in the first nine months of this year, up from US$41 million in all of 2013.
Revenue rose to US$138 million in the first three quarter from US$13.1 million a year earlier. Net income was US$30.8 million, compared with a year-earlier loss of US$10.9 million.
The P2P platform was launched in 2012.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
