X Financial Announces Initial Public Offering
Summary
X Financial (NYSE: XYF), a Shenzen, China-based technology-driven personal finance company, has priced its initial public offering.The company prizes 11,000,000 American Depositary Shares, each representing two Class A ordinary shares, at US$9.50 per ADS for a total offering size of approximately US$104.5m, assuming the underwriters do not exercise their option to purchase additional ADSs.The ADSs have been approved for listing on the New York Stock Exchange and are expected to begin trading today under the ticker symbol “XYF.”Deutsche Bank Securities Inc. and Morgan Stanley & Co. International plc are acting as joint book runners for the offering.X Financial is a technology-driven personal finance company focused on serving China’s underserved prime borrowers and mass affluent investors.