LendingClub of China: Yirendai sets terms for $75 million US IPO

Yirendai, a Chinese marketplace for peer-to-peer loans spun out of CreditEase, announced terms for its IPO on Thursday.
The Beijing, China-based company plans to raise $75 million by offering 7.5 million ADSs at a price range of $9 to $11. At the midpoint of the proposed range, Yirendai would command a fully diluted market value of $575 million.

Yirendai, which was founded in 2012 and booked $157 million in net revenue for the 12 months ended September 30, 2015, plans to list on the NYSE under the symbol YRD. Morgan Stanley, Credit Suisse and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of December 14, 2015. If it prices, Yirendai will likely be the last IPO of 2015.

Share on Google Plus

About Jessica Hornberger

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.