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BUSINESS & TECH

P2P Lender Ppdai Leads List of New Filers in Rising IPO Wave

By Yang Ge, Shi Rui and Wei Yiyang
As several domestic media and technology firms seek listings overseas, NASDAQ-traded Chinese filmmaker Bona is planning to raise up to 1.425 billion yuan ($212 million) in China.  Pictured above is Bona founder and CEO Yu Dong standing between Chinese actor Chen Kun and Welsh star Catherine Zeta-Jones. Photo: Visual China
As several domestic media and technology firms seek listings overseas, NASDAQ-traded Chinese filmmaker Bona is planning to raise up to 1.425 billion yuan ($212 million) in China. Pictured above is Bona founder and CEO Yu Dong standing between Chinese actor Chen Kun and Welsh star Catherine Zeta-Jones. Photo: Visual China

A third company from China’s burgeoning financial technology (fintech) sector has filed to raise hundreds of millions of dollars in an offshore IPO, amid a flurry of other listing plans in what is shaping up to be one of the hottest seasons for Chinese media and technology offerings in three years.

Ppdai Group Inc.’s newly announced plan to raise up to $350 million through a New York initial public offering (IPO) comes after the hugely successful listing of online-only insurer ZhongAn Online Property & Casualty Insurance Co. Ltd., whose shares have risen nearly 50% since it raised $1.5 billion last month. The plan also comes as online microlender Qudian Inc. gets set to raise up to $825 million in a New York IPO set to price and debut later this week.

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