Credit: Shutterstock photoX Financial, which operates a peer-to-peer lending platform in China, raised $105 million by offering 11 million ADSs at $9.50, toward the low end of the $9 to $11 range. At the offer price, X Financial commands a fully diluted market value of $1.5 billion.
In its IPO filings, X Financial disclosed that a co-founder planned to buy up to $30 million on the IPO, while outside investors had indicated an interest in up to $70 million.
X Financial plans to list on the NYSE under the symbol XYF. Deutsche Bank and Morgan Stanley acted as lead managers on the deal.
The article P2P lending platform X Financial prices US IPO below midpoint at $9.50 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
