Qudian Shares Slump to 13% Lower Than IPO Price Amid Investor Doubts
Liao Shumin
DATE:  Oct 27 2017
/ SOURCE:  Yicai
Qudian Shares Slump to 13% Lower Than IPO Price Amid Investor Doubts Qudian Shares Slump to 13% Lower Than IPO Price Amid Investor Doubts

(Yicai Global) Oct. 27 -- Fintech firm Qudian Inc. [NYSE:QD], the largest Chinese company to list in the US this year, saw its share price continue to fall yesterday, closing down 13.34 percent on its USD24 issue price at USD22.87.

Qudian listed on the New York Stock Exchange last Wednesday with a fund of USD900 million, representing the fourth-largest IPO in US history. The share price has been extremely volatile over the first seven days of trading due to the firm's controversial cash loan services.

In a recent interview, company executive Luo Min said the company never collects debts on such loans and mentioned that related interest rates have never exceeded 36 percent, leading to doubts among investors.

The sharp fluctuation of Qudian's share price indicates a see-saw game between the ever-growing interest of the world in China's flourishing fintech sector, and the increasing scrutiny of scandals related to the country's prominent companies, online media outlet Jiemian News said.

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Keywords:   Qudian Inc.,STOCK PRICE,Issue Price