Chinese Lender Qudian Leads 2 IPO Launches Totaling $869M

Law360, New York (October 3, 2017, 5:58 PM EDT) -- Chinese online lender Qudian Inc. launched an estimated $769 million initial public offering on Tuesday, adding to a growing IPO pipeline along with private equity-backed medical device company OptiNose Inc., which set terms on a projected $100 million offering.

Beijing-based Qudian plans to offer 37.5 million Class A shares priced between $19 and $22, raising $768.8 million if shares price at midrange. Qudian, represented by Simpson Thacher & Bartlett LLP, is directly offering 35.6 million shares in the IPO while various existing shareholders are selling 1.9 million shares.

Qudian describes itself as China's largest online provider of small cash credit products,...

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