Chinese P2P firm FinVolution taps HSBC for potential take-private deal: sources [Reuters (UK)]
FinVolution Group American Depositary Shares (FINV)
Company Research
Source: Reuters
Chinese P2P firm FinVolution taps HSBC for potential take-private deal: sources - Reuters 3 Min Read HONG KONG, March 13 (Reuters) - China’s oldest peer-to-peer (P2P) lending company FinVolution Group has asked HSBC to seek out potential investors interested in taking the U.S.-listed firm private, two people with direct knowledge of the discussions said. The search comes as Chinese regulators continue a crack down on the once-booming industry that has been plagued with fraud and scandals. Only 427 P2P firms were still operating by the end of October, down from 6,000 at their 2015 peak, according to official data. Shares in FinVolution, formerly known as PPDAI Group, have dropped steadily since its November 2017 debut in New York, falling from $13 to just $1.51 on Thursday and leaving it with a market capitalisation of $463 million. Any take-private deal is at an extremely early stage and HSBC Group Holdings PLC has not been officially mandated on the transaction, cautioned the people,
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FINV
News
- FinVolution Group Files 2023 Annual Report on Form 20-FPR Newswire
- FinVolution's Philippine Subsidiary Cooperates with Union Bank of the Philippines, Accelerating Financial Inclusion [Yahoo! Finance]Yahoo! Finance
- FinVolution's Philippine Subsidiary Cooperates with Union Bank of the Philippines, Accelerating Financial InclusionPR Newswire
- FinVolution Group thông báo tr? thành nhà tài tr? chính th?c cho IWF World Cup 2024PR Web
- ?????????? ????? ???????????????????????????????????????????????????? ????????? 2024PR Web
FINV
Sec Filings
- 4/25/24 - Form 20-F
- 3/21/24 - Form 144
- 3/19/24 - Form 6-K
- FINV's page on the SEC website