Nine Chinese Fintech Firms List Offshore in 2018, Five Submit Prospectuses

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At least nine Chinese fintech companies launched their IPO’s on offshore bourses in 2018, with another five submitting prospectuses.

According to a report from 01Caijing the IPO’s raised a total of USD$738 million, with six taking place in the United States and three in Hong Kong.

This compares to eight listings in 2017 which raised $311 million, with seven listings in the US including LexinFintech Holdings (NASDAQ:LX), Qudian Inc. (NYSE:QD), Hexindai (NASDAQ:HX), China Internet Nationwide (NASDAQ:CIFS), PPDAI Group (NYSE:PPDF), China Rapid Finance (NYSE:XRF) and Jianpu Technology (NYSE:JT), and one listing in Hong Kong with ZA Online (06060.HK).

The six Chinese fintech listings that took place state-side in 2018 include Senmiao Technology (NASDAQ: AIHS),  Golden Bull (NASDAQ: DNJR), Pintech Technology Holdings (NASDAQ: PT), X Financial (NYSE: XYF), Weidai (NYSE: WEI) and 360 Finance Inc (NASDAQ: QFIN).

The three Hong Kong listings were for Huifu Payment (01806.HK), 51 Credit Card (2051.HK)  and V Credit Holdings (02003.HK).

2018 also saw five Chinese fintech firms submit their prospectuses, including SMY Financial (萨摩耶金服) and Tairan Financial (泰然金融), who plan to list on the New York Stock Exchange; Jiayin Fin-tech (嘉银金科) which is eyeing a Nasdaq listing, and Wolaidai (我来贷) and Finup Group (凡普金科), who planned Hong Kong listings.

Chinese fintech companies that listed in 2018 

Company Code Exchange Listing date Financing scale Issuance price Share price as of 20 December
Senmiao Technology AIHS NASDAQ 3/16 USD$12million USD$4.00 USD$4.09
Golden Bull DNJR NASDAQ 3/20 USD$6.2 million USD$4.00 USD$4.25
Pintech Technology Holdings PT NASDAQ 10/25 USD$44.25 million USD$11.88 USD$10.60
360 Finance QFIN NASDAQ 12/14 USD$51.15 million USD$16.5 USD$16.43
X Financial XYF NYSE 9/19 USD$104.5 million USD$9.5 USD$5.82
Weidai WEI NYSE 11/15 USD$45 million USD$10.00 USD$9.90
Huifu Payment 01806 HKSE 6/14 HKD1.593 billion HKD7.5 HKD2.72
V Credit Holdings 02003 HKSE 6/21 HKD1.19 billion HKD20.00 HKD6.84
51 Credit Card 02051 HKSE 7/16 HKD931 million HKD8.5 HKD3.67

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