Two more firms join slate of Chinese fintech IPOs in US this year
Companies are looking to New York to avoid tougher listing requirements in Hong Kong and longer waiting times in China
Chinese peer-to-peer lender Hexindai and online advertising agent iClick Interactive have begun preparations for initial public offerings in the US this year, according to sources.
The companies join three other Chinese fintech firms which have already announced plans to list in New York this year. Sources say that microlender Qudian hopes to raise US$1 billion for its listing which could come as early as June. China Rapid Finance and Ppdai both hope to list by year’s end with targets of US$100 million and US$200 million, respectively, according to sources cited by Caixin.
The firms are reportedly eager to list in New York to avoid stricter requirements in Hong Kong and longer waiting times in mainland China.
The pipeline of Chinese IPOs planning to list in New York could make this year the biggest for China-based firms since 2014.