Alibaba-backed online micro-lender Qudian has raised around $900m during its initial public offering, the largest in the US by a American 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.
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.