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 $1.9 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 JFU. Credit Suisse, Haitong International, CITIC CLSA, China Investment Securities International, and 9F Primasia Securities are the joint bookrunners on the deal.
