Yirendai, the Chinese peer-to-peer lender hit by share price falls after its US listing last week, says it has a two-year “window of opportunity” before international rivals enter its home market.
On Friday, shares in the subsidiary of CreditEase, the Chinese group, listed on the New York Stock Exchange but suffered intraday falls of as much as 16.5 per cent. This initial public offering, to raise $75m, marked the first time a Chinese peer-to-peer lender had sold shares internationally.
Yirendai, China’s version of Lending Clubor Funding Circle, claimed it facilitated $984m of loans during the first nine months of 2015, having made only $41m of loans in the whole of last year.
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