The LendingClub of China: Yirendai files for a $100 million US IPO

(Renaissance Capital's research analysts) Yirendai, a Chinese marketplace for peer-to-peer personal loans spun out of CreditEase, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Yirendai has facilitated $1 billion in loans since its inception in 2012. The company's model is similar to US-based LendingClub (LC), which went public in December 2014 and popped 56% on its first day, but has traded down 50% year-to-date. Like to Read More Basic Idea Of Ipo
The Beijing, China-based company booked $106 million in revenue for the 12 months ended June 30, 2015, and plans to list on the NYSE under the symbol YRD. Yirendai filed confidentially on February 27, 2015. Morgan Stanley, Credit Suisse and China Renaissance are the joint bookrunners on the deal. No pricing terms were disclosed.

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