Chinese online provider of consumer loans Qudian debuts on NYSE

Almaty. October 20. Silkroadnews – Chinese online provider of consumer loans Qudian debuts on NYSE, Xinhua news agency reported.
“Chinese online small consumer credit provider Qudian Inc. made its debut on the New York Stock Exchange (NYSE) on Wednesday, trading under the ticker symbol of “QD”,” the report said.
It is noted that Qudian evaluated its initial public offer of 37,500,000 American depositary shares at $24.00 per share with a total placement of about $900.00 million. Each share represents one ordinary share of Class A.
Out of a total of 375,000,000 shares offered, the company offers 35,625,000 shares, and 1,787,000 shares are offered by selling shareholders.
Qudian started trading at $34.35 per share on Wednesday morning, up 43.1% from its price, and traded at $31.48 apiece around midday.
“The company is the largest online provider of small cash credit products in China in terms of the number of active borrowers and the amount of transactions in the six months ended June 30, 2017. For the six months ended on June 30, 2017, Qudian's revenue was 270.4 million dollars, up 393.3 percent from the same six months a year ago, while its net income for the six months ended on June 30, 2017 were 143.6 million dollars, 695.2 percent higher than the year-ago period, the company said in its prospectus”, the report reads.