(Yicai Global) Nov. 2 -- Ppdai Group Inc. plans to publicly list on the New York Stock Exchange (NYSE) on Nov. 10, with its stock code 'PPDF,' per a report by US-based financial website IPOScoop. 

The issue price of Ppdai's initial public offering (IPO) is USD16-19 per share, which is set to pool around USD297 million, far less than the USD371 million specified in the firm's updated prospectus of Oct. 31.

Credit Suisse (USA) Inc. and Citigroup Inc. [NYSE:C] are the co-lead managers in the offering.

By June 30, Ppdai attained CNY1.74 billion net revenues in the first half, as against last year's CNY352 million.

Qudian Group [NYSE:QD], another Chinese fintech company listed on the NYSE on Oct. 18, which then set the record for the fourth-largest IPO, pooling USD900 million. However, company founder Luo Min was quoted as saying, "For all the overdue debts, we take them as bad debt. We will not urge borrowers to pay back bad debt and will not even make a phone call to them. If the borrower does not repay the money, we will give it to them as a form of welfare."

These odd remarks soon reaped negative press for Qudian, causing its share price to drop below its offer price. This event also ignited debate among the public about the morality of internet loan businesses and prompted regulators to stiffen their administration.