January 23, 2017 / 6:31 AM / 3 years ago

China's oldest P2P lender Ppdai plans $200 mln NY IPO in H1 2017 -IFR

HONG KONG, Jan 23 (Reuters) - China’s oldest peer-to-peer (P2P) lender Ppdai.com plans to raise $200 million in an initial public offering (IPO) in New York in the first half of 2017, IFR reported on Monday, citing people close to the plans.

Citigroup and Credit Suisse will lead the IPO, added IFR, a Thomson Reuters publication.

Ppdai.com, Citigroup and Credit Suisse declined to comment.

The company, formally known as Shanghai Paipaidai Financial Information Service, counts Legend Capital, the venture capital arm of Legend Holdings Corp, among its shareholders, IFR said. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto)

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