Caixin
Nov 22, 2018 07:16 AM
FINANCE

Meituan Cleared to Issue $722 Million of Asset-Backed Securities

As of the end of June, Meituan had 357 million annual active buyers and 5.1 million active merchants on its platform. Photo: VCG
As of the end of June, Meituan had 357 million annual active buyers and 5.1 million active merchants on its platform. Photo: VCG

Another Chinese internet company is issuing securities backed by small business loans in the face of a regulatory crackdown on online microlenders’ fundraising.

Meituan Dianping, an online food delivery-to-ticketing services platform that recently went public in Hong Kong, said Wednesday that the Shenzhen Stock Exchange cleared its plan to issue 5 billion yuan ($722 million) of asset-backed securities (ABS).

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