Credit: Shutterstock photoPintec Technology Holdings, which operates an online platform that facilitates merchant financing in China, raised $44 million by offering 3.7 million ADSs at $11.88, within the $10 to $12 range. Insiders and one of the company's business partners indicated an interest in investing up to $34 million (77% of deal size) and $20 million (45%) worth of ADSs, respectively, on the IPO. At pricing, the Beijing, China-based company will command a fully diluted market value of $520 million and an enterprise value of $609 million (+7%). Pintec Technology Holdings plans to list on the Nasdaq under the symbol PT. Goldman Sachs (Asia), Deutsche Bank and Citi acted as lead managers on the deal.
The article Chinese lending platform Pintec Technology prices IPO at $11.88, within the range 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.
