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Chinese micro lender Qudian under fire after splashy US IPO

Days after its splashy US IPO, Chinese online loan provider Qudian is undergoing a major crisis as local media has begun questioning the sustainability, validity and morality of their business. Born out of student-based Qufenqi, Qudian first grew by offering small loans to colleges students to capitalize on the rising spending power of China’s younger generations. At […]

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Alibaba-backed Qudian raised $900M in IPO in New York, largest US IPO for a Chinese fintech firm

Alibaba-backed Chinese online micro-credit service provider Qudian has just raised around $900 million in an IPO in New York on Wednesday. Its American depositary shares were priced at $24 each, above the marketed range of $19-$22. The price is believed to be higher than expected, demonstrating US investors’ huge interest in burgeoning Chinese companies. Qudian, […]

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Chinese microlender Lexin files for a $500m US IPO

Lexin Fintech Holdings, an online microlending platform targeting young Chinese consumers, on Monday filed for IPO in the US to raise $500 million. According to the company’s IPO prospectus, Lexin plans to list on Nasdaq under the stock code LX. The joint book runners include Goldman Sachs (Asia), BofA Merrill Lynch, Deutsche Bank, and China […]