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BUSINESS & TECH

Qudian Sets Price Range for U.S. Listing

By Yang Ge
Qudian, whose logo is pictured, set a price range of $19 to $22 for its American Depositary Shares (ADSs), kicking off a roadshow for an IPO expected to make its trading debut around the middle of this month. Photo: IC
Qudian, whose logo is pictured, set a price range of $19 to $22 for its American Depositary Shares (ADSs), kicking off a roadshow for an IPO expected to make its trading debut around the middle of this month. Photo: IC

Online microlender Qudian Inc. set the price range for its New York IPO on Tuesday, aiming to raise more than $800 million in what could become the largest U.S. listing to date by a new wave of Chinese financial technology companies, known as fintechs.

The offering would follow last week’s successful Hong Kong listing of another fintech company, online-only insurance provider ZhongAn Online Property & Casualty Insurance Co. Ltd., which raised $1.5 billion. Since pricing at the top of its range on strong demand, ZhongAn’s stock has risen about 13% above its offer price.

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