Chinese lending marketplace 9F sets terms for $76 million US IPO

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9F, an online consumer lending platform in China, announced terms for its IPO on Thursday. In its latest filing, the company also added CLSA and China Investment Securities International as joint bookrunners.

The Beijing, China-based company plans to raise $76 million by offering 8.9 million ADSs (24% insider) at a price range of $7.50 to $9.50. Outside investors have indicated an interest in purchasing a substantial amount of the IPO. At the midpoint of the proposed range, 9F would command a fully diluted market value of $1.7 billion.

9F was founded in 2006 and booked $805 million in revenue for the 12 months ended March 31, 2019. It plans to list on the NYSE under the symbol JFG. Credit Suisse, Haitong International, CITIC CLSA, China Investment Securities International, and 9F Primasia Securities are the joint bookrunners on the deal.

The article Chinese lending marketplace 9F sets terms for $76 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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