Quick Take: Another Chinese Microlender Seeks U.S. Listing
Chinese online microlender LexinFintech Holdings Ltd. has turned a profit for the first time ahead of a planned listing in the U.S., according to the company’s IPO prospectus.
Shenzhen-based LexinFintech, which is seeking a listing on the Nasdaq market in New York, reported its first net profit of 5.28 million yuan ($794,000) for the January-through-September period. The company, which arranges P2P loans in addition to offering microloans, suffered a net loss of 193.74 million yuan over the same period a year ago.
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