Chinese P2P lender Weidai scales back US IPO target to $45m

Chinese P2P lender Weidai scales back US IPO target to $45m

Trading floor of the New York Stock Exchange (NYSE).

Chinese peer-to-peer (P2P) lender Weidai, which means “microlending” in Chinese, has set the terms for its scaled-back initial public offering in the US, cutting its target to $45 million from $100 million by offering 4.5 million American depositary shares (ADS), according to the company’s amended SEC filing.

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