Hexindai makes debut on NASDAQ

Updated 2017-11-06 10:03:29 Global Times

Chinese consumer-lending company Hexindai Inc debuted on the NASDAQ on Friday in New York, media reports said.

The American depositary shares of the company, priced at each in the IPO, rose as high as 70 percent to on their debut.

Hexindai lends to China's middle class from 144 branches in 103 cities across China.

Hexindai CFO Johnson Zhang told Reuters ahead of the listing that the company will use the IPO proceeds to upgrade its operating structure, including risk control, privacy protection, and anti-fraud and billing systems.

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