Chinese lending platform LexinFintech files for a $500 million US IPO

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LexinFintech Holdings, an online provider of installment-based loans to young Chinese consumers, filed on Monday with the SEC to raise up to $500 million in an initial public offering.

Formerly Fenqile, Lexin had 3.3 million active customers during the nine months ended September 30, 2017, up 34% from the prior year period.

The Shenzhen, China-based company was founded in 2013 and booked $810 million in revenue for the 12 months ended September 30, 2017. LexinFintech Holdings filed confidentially on July 18, 2017. It plans to list on the Nasdaq under the symbol LX. Goldman Sachs (Asia), BofA Merrill Lynch, Deutsche Bank and China Renaissance are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Chinese lending platform LexinFintech files for a $500 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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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