Yirendai’s Shares Debut on NYSE

Yirendai IPOYirendai, a subsidiary of one of the largest Chinese peer to peer lenders CreditEase, launched its IPO on the Near York Stock Exchange (NYSE) under the ticker symbol “YRD”.  The American Depository Shares (ADS) were priced at $10 per share.  According to the company, 7.5 million shares were floated raising $75 million.  Yirendai granted underwriters the option to purchase up to 1.125 million additional shares. Morgan Stanley & Co., Credit Suisse Securities, China Renaissance Securities Limited, and Needham & Company, were joint bookrunners for the offering.

Ning TangWSJ.com said the IPO could foreshadow a new push for Asian P2P lenders to raise capital via IPOs. Yirendai had revenue of approximately $32 million in 2014 but jumped to over RMB 8,748.3 million ($137 million) by Q3 of this year.


Yirendai executive chairman Ning Tang rang the bell this morning at the NYSE.  The company hit the ticker on a down day on Wall Street. Shares initially traded up but currently are trading down below $9/share.  Yirendai joins Lending Club and OnDeck as online lenders that trade on the NYSE.

Sponsored Links by DQ Promote


Send this to a friend