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Yirendai to price IPO of 7.5 million ADS between $9.00 and $11.00
Bookrunners Morgan Stanley, Credit Suisse and China Renaissance assist
By Devika Patel
Knoxville, Tenn., Dec. 17 – Yirendai Ltd. will sell 7.5 million American Depositary Shares in its initial public offering with a greenshoe of 1,125,000 additional ADS, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $94,875,000 of underlying ordinary stock for the deal, which was announced on Nov. 16.
The ADS, which each represent two ordinary shares, will be sold at a price expected to fall between $9.00 and $11.00 per ADS.
Morgan Stanley, Credit Suisse and China Renaissance are the bookrunning managers; Needham & Co. is the co-manager.
Proceeds will be used for general corporate purposes.
The online consumer finance company is based in Beijing. It expects the ADSs to trade on the NYSE under the symbol “YRD.”
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