(Yicai Global) Nov.03 -- Chinese online consumer credit platform Hexindai Inc. [NASDAQ:HX] will list on the Nasdaq stock market today, raising USD80 million through issuance of shares in the range of USD9 to USD11.

Hexindai, founded in March 2014, mainly provides credit to lower income consumers aged between 31 and 45. The firm's customers typically hold disposable assets of between CNY60,000 and CNY100,000 and receive an average monthly income of CNY3000 to CNY7000.

The platform mainly provides medium-scale loans ranged between CNY20,000 and CNY140,000 on average.

Hexindai's business scale has expanded rapidly in recent years and it achieved revenues of USD11.89 million and USD22.9 million, up 156 percent and 92.7 percent, respectively, in the 2016 and 2017 fiscal years. Operating incomes include loan facilitation revenue, loan management revenue and post-origination revenue.

The firm posted a net profit of USD8.571 million in the fiscal year 2017, representing annual growth of 142.2 percent from USD3.538 million.