September 18, 2017 / 10:36 PM / a month ago

China-based Qudian Inc files for IPO

(Reuters) - China-based online credit provider Qudian Inc said on Monday it has filed for an initial public offering of up to $750 million of class A ordinary shares represented by American Depository Shares (ADSs), according to an SEC filing.

The shares will trade on the New York Stock Exchange under the symbol "QD", according to the regulatory filing. (bit.ly/2yl2wHp)

In the three months ended March 31, Qudian facilitated about RMB16.7 billion (US$2.4 billion) in transactions to 4.8 million active borrowers.

Morgan Stanley & Co, Credit Suisse Securities (USA), Citigroup Global Markets Inc, China International Capital Corporation Hong Kong Securities Ltd, UBS Securities, Stifel, Nicolaus and Company Inc and Needham & Co are serving as underwriters.

Qudian plans to use net proceeds for strategic acquisitions and marketing and borrower engagement.

Reporting by Roopal Verma in Bengaluru

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