December 4, 2017 / 2:43 AM / a year ago

China's Lexinfintech to conduct additional IPO due diligence, to delay listing - source

BEIJING, Dec 4 (Reuters) - Chinese consumer lending platform Lexinfintech will undergo additional due diligence for its planned initial public offering on the Nasdaq, according to a source with direct knowledge of the situation.

The decision will extend the IPO timeframe and came after new rules regulating the industry were announced on Friday, the source said.

China’s financial regulators on Friday circulated new rules targeting fast-growing online micro-lenders, part of a campaign to rein in a rapidly developing financial sector.

LexinFintech filed for a Nasdaq listing in mid-November hoping to raise $500 million. (Reporting by Pei Li and Elias Glenn; Editing by Stephen Coates)

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