Hexindai, a Chinese marketplace for peer-to-peer lending, announced terms for its min-max US IPO on Monday. The offering is being made on a best-efforts, min-max basis and therefore will not be included in our IPO stats.
The Beijing, China-based company plans to raise at least $30,000,000 by offering a minimum of 2.7 million ADSs and a maximum of 8.9 million ADSs at a price range of $9 to $11. At the midpoint of the proposed range, Hexindai would command a fully diluted market value of $487 million.
Hexindai was founded in 2014 and booked $34 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol HX. Network 1 Financial Securities is the sole bookrunner on the deal. No pricing updates were disclosed.
