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