Weidai NYSE listing highlights e-credit

NEW YORK - Weidai, which provides an automated secured loan platform for small businesses in China, rang the New York Stock Exchange opening bell last month in celebration of its initial public offering.

The company, trading under the ticker symbol of "WEI," announced its IPO of 4.5 million American depositary shares, each representing one Class A ordinary share, at a price to the public of $10 per ADS for a total offering size of about $45 million.

Morgan Stanley and Citi acted as lead managers of the deal.