Fincera (OTCQB:YUANF) , a China based peer to peer online lender targeting small and medium-sized businesses and individuals in China, has announced that its Board of Directors has approved a 2 for 1 stock split of the Fincera’s outstanding shares of common stock in the form of a 100% stock dividend payable on or about November 8 , 2017 to shareholders of record on November 1 , 2017. Stockholders will receive one additional share for each share held on that date .
Fincera was originally called AutoChina International. The company previously provided commercial vehicle financing to China’s transportation industry. Over a period of 20 years, Fincera has refined and evolved its business model to focus on online financial and e-commerce services for SMBs and individuals. Fincera also operates a network of branch offices in 31 across China. Fincera’s primary service offerings include a credit advance//oonline payment processing network and a web – based small business lending platform.
Recently, Fincera has traded in a tight range around $34/share. The market cap of the company currently stands at around $800 million.