The China-based, SIG-backed online lender floated below its range in the US and is currently hovering just above the IPO price.
PPdai, a China-based online lending marketplace backed by trading and technology firm Susquehanna International Group (SIG), raised $221m when it floated on the New York Stock Exchange on Friday.
The company issued 17 million American depositary shares (ADSs) priced at $13.00 each, below the $16 to $19 range it had previously set. Investment manager Sun Hung Kai & Co bought another $50m of shares to take the total amount raised to $271m.
Also known as Paipaidai, PPdai runs an…
