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Chinese online lender HeZhong International seeks U.S. IPO

Source: Xinhua| 2019-01-13 00:17:06|Editor: Mu Xuequan
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NEW YORK, Jan. 12 (Xinhua) -- HeZhong International Holding, which operates a peer-to-peer lending platform in China, has filed for an initial public offering (IPO) on the U.S. stock market.

The company plans to list on the NASDAQ under the symbol "HZ," with an expectation to raise up to 6 million U.S. dollars in the IPO, according to its prospectus filed on Friday with the U.S. Securities and Exchange Commission.

Founded in 2018, the Shenzhen-based company is providing services for its online marketplace connecting borrowers and investors.

It acquires borrowers and investors through various channels, including referrals from business partners, social media, websites, WeChat official accounts and mobile applications, said its prospectus.

So far, HeZhong has accumulated some 6 million registered users, of which 81,260 investors and 637,446 borrowers have participated in the loan transactions facilitated through its platform.

The company generates revenue from fees charged for loan facilitation and management service to borrowers and investors.

It booked 34 million dollars in revenue in the fiscal year ending June 30, 2018, said the filing.

HeZhong aims to grow user base by working with existing and new traffic partners, expanding its product offerings, investing in technology, continuing to enhance its brand and exploring financial markets overseas when suitable opportunities arise.

ViewTrade is the sole bookrunner on the deal. No pricing terms were disclosed.

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