Weidai, which provides an auto-secured loan platform for small businesses in China, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The China-based company was founded in 2011 and booked $565 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol WEI. Weidai filed confidentially on May 25, 2018. Morgan Stanley, Credit Suisse and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
