Home / Business / Companies

China Rapid Finance files IPO application in US

Xinhua | Updated: 2017-04-01 15:20

SHANGHAI - A Chinese firm China Rapid Finance filed an IPO application to the US Securities and Exchange Commission (SEC) Friday in a bid to go public in April.

Financial services providers Morgan Stanley, Credit Suisse and Jefferies served as the underwriters for the IPO.

Founded in 2001, Shanghai-based China Rapid Finance is one of China's leading consumer lending platforms, with offline and online lending channels.

In the past three years, the firm facilitated more than 10.7 million deals of loan, with a total value of $2.1 billion, according to its application files.

In 2016, several of China's major online finance firms completed rounds of capital raising. JD Finance, a subsidiary of China's leading e-commerce platform JD.COM, was valued $6.7 billion after raising capital. Ant Financial, Alibaba's online payment affiliate, collected $45 billion and is valued at $60 billion.

Analysts said improved regulatory policies would create more opportunities for financial services platforms to enter the market.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349