Chinese Fintech IPO Euphoria Wanes as Regulators Weigh Crackdown [Bloomberg Business News]
Qudian Inc. American Depositary Shares, each representing one Class A Ordinary Share (QD)
NASDAQ:AMEX Investor Relations:
ir.qudian.com
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Source: Bloomberg Business News
The euphoria around Chinese fintech listings is starting to wane. Online lender PPDAI Group Inc. raised $221 million after pricing its U.S. initial public offering below the bottom end of a marketed range, people with knowledge of the matter said Friday. Rival Qudian Inc. fell below its offer price the week after its October debut in New York, then bounced back, only to see its stock drop 7.4 percent over the past two days. PPDAI priced its offering a week after news that Chinese regulators are considering a crackdown on the country’s cash microlenders in response to claims that some have charged excessive interest rates. The initial public offering of Qudian helped trigger the regulator’s review of the sector, people with knowledge of the matter said earlier this month. “One of the things that you’re seeing pretty clearly is the pullback of the risk appetite for these types of lenders,” Christopher Balding, associate professor at Peking Un
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