Rapid Finance launches US IPO as China targets offshore financing

China Rapid Finance, the peer-to-peer lender, filed for a $100 million IPO in New York Monday reports NYSE.

Bookrunners for the IPO are Morgan Stanley, Credit Suisse, Jefferies International, according to the SEC filing announced on Reuters

The Shanghai based enterprise, started by Zane Wang in 2001, is one of the largest non-bank lenders in rapidly expanding market said to be worth 3.7 trillion yuan ($539 billion) by 2019, according to Bloomberg reports.

The IPO comes as China moves to limit offshore financing for lower rated, higher risk companies according to reports in Reuters IFR