Alibaba - backed online micro - lender Qudian has raised around $ 900 million during its initial public offering , the largest in the US by a Chinese company this year . Shares were priced at $ 24 , above the expected $ 19-$22 million . The company , whose platform enables students and young professionals to purchase consumer electronics for monthly repayments , generated revenue of £1 ( $ 276 m ) in the six months through 2016 .
Alibaba-backed online micro-lender Qudian has raised around $900m during its initial public offering, the largest in the US by a Chinese company this year. Shares were priced at $24, above the expected $19-$22 range. The company, whose platform enables students and young professionals to buy consumer electronics for monthly repayments, posted revenue of CNY1.83bn ($276m) in the six months through June.