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. The company, which is based in San Francisco, said it had received more than $2bn of funding from investors including Goldman Sachs, Morgan Stanley and Nasdaq. 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.