Sina Technologies News Beijing time October 27 noon news, 360 Finance yesterday formally submitted a prospectus to the United States Securities and Exchange Commission (SEC) for listing on the New York Stock Exchange, the stock code is "QFIN".
360 the IPO is expected to raise no more than US $200 million. The issue price range of IPO and the number of shares issued have not been disclosed in the prospectus. The IPO underwriters are Goldman Sachs and Citigroup.
360 Financial disclosed in its prospectus that the company and 360 Group work closely on consumer brand and experience, capital and borrower acquisitions. Of these, 22.7% of borrowers came from 360 groups.
The following is the relationship between 360 financial disclosure and the 360 group:
The company cooperates closely with 360 Group in a series of functions to form a mutually beneficial strategic and economic partnership. The experience and brand of 360 Group in digital participation and information security is particularly helpful in shaping the company's platform fundamentally. Such cooperation includes:
Consumer brand and experience. As a financial partner of 360 Group, the company embeds the core value of 360 Group into its own platform to provide a range of products and services to borrowers and to meet the quality, user service and security requirements of the defined 360 Group. The company believes that in an increasingly competitive market, as the differences between products become less apparent, this will become a special element of differentiation.
- funds. The company believes that its partnership with the 360 Group offers a continuing financial advantage over other online consumer credit platforms, including capital costs and access to capital. The company's investment partners are attracted to the company's platform to reach out to borrowers and receive risk-adjusted returns. The company believes they are also attracted by the company's stable outlook, which is reinforced by the support of the 360 Group. This translates into a more important lifetime value proposition for corporate investment partners, encouraging them to keep increasing their commitment and attracting more investment partners to join the company's platform.
- borrowers receive customers. The company's products are integrated within the platform of the 360 Group, enabling the company to reach a total of 1 billion mobile devices. As of September 30, 2018, 22.7% of the company's borrowers came from 360 group channels.
The company has signed a business cooperation agreement with the 360 group. In compliance with applicable law and without infringement of the legitimate rights of any third party, the Company and the 360 Group agreed to continue to cooperate in the field of advanced data analysis methods, including but not limited to, driven by best practices in artificial intelligence and data security. Especially with regard to data, with the explicit consent of the borrower, the company will continue to develop algorithms that generate risk metrics from 360 group user data for the assessment and wind control of the borrower.
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