Company: PPDAI Group Inc.
Symbol: PPDF
Description: They are a leading online consumer finance marketplace in China with strong brand recognition.
Shares: 17 million ADSs
Price Range: $16.00-$19.00
Trade Date: 11/10
Underwriter(s): Credit Suisse, Citigroup
Co-Manager(s): Keefe Bruyette & Woods
Filed 10-30-17
Business: They were ranked No.1 among China’s online consumer finance marketplaces in terms of number of borrowers as of December 31, 2016 and June 30, 2017, according to iResearch. Launched in 2007, they are the first online consumer finance marketplace in China connecting borrowers and investors, whose needs are unserved or underserved by traditional financial institutions, according to iResearch. As of June 30, 2017, they had over 48 million registered users. As a pioneer in China’s online consumer finance marketplace market, they benefit from both their early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles.
Financial Sector Performance: IPOs in 2017
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