LexinFintech (LX) IPO Opens 31% Higher

Today's IPO for LexinFintech Holdings Ltd. (NASDAQ: LX) opened for trading at $11.80 after pricing 12,000,000 American depositary shares ("ADSs") at a price to the public of $9.00.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,800,000 additional ADSs at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs (Asia) L.L.C., BofA Merrill Lynch, Deutsche Bank Securities and China Renaissance are acting as lead bookrunners for the offering and ICBC International is acting as co-manager.

LexinFintech Holdings Ltd. ("Lexin" or “the Company”) is a leading online consumer finance platform for educated young adults in China. As one of China’s leading financial technology companies, Lexin integrates its e-commerce-driven installment finance platform, Fenqile, with advanced risk management technologies, the Company’s Dingsheng online investment platform, and the Company’s Juzi Licai online investment platform for individual investors, to create a comprehensive consumer finance ecosystem. The Company utilizes technologies including big data, cloud computing and artificial intelligence to enable the near-instantaneous matching of user funding requests with offers from the Company’s more than 30 funding partners, which include commercial banks, consumer finance companies, and other licensed financial institutions. By serving the credit needs of China’s educated young adults, Lexin helps its more than 20 million registered users to enjoy a better quality of life through the use of better credit.

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