Weidai files IPO amid P2P crackdown

Forever a loan
By John Loh
13 Aug 2018

Chinese peer-to-peer lender Weidai is seeking an IPO on the New York Stock Exchange, even as the troubled sector continues to reel from tightening regulations.

The issuer filed a American Depositary Shares listing last Friday, looking to raise $100m through bookrunners Citi, Credit Suisse and Morgan Stanley.

Weidai was the biggest provider of auto-backed loans in China by volume in 2015 through 2017, with a market share of 35% as of last year, ...

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