YiRen Loan Announces Initial Public Offering Price

Beijing, China, December 18, 2015 - Pleasant Loan Co., Ltd. (NYSE: YRD) (hereinafter referred to as Pleasant Loan or Company) is China's leading online consumer finance platform, today announced its Initial public pricing.The company issues 7,500,000 ADS (hereinafter referred to as ADS) at $10 per share. If the underwriters do not exercise their over-allotment rights, the total fundraising will be US$75 million. Each ADS is equivalent to 2 ordinary shares of the company. It will be officially listed on the New York Stock Exchange today with the trading code YRD.
According to the over-allotment rights granted by the company to the underwriters, the underwriters may purchase up to 1,125,000 ADS shares within 30 days after the final version of the prospectus is submitted.
In this offering, Morgan Stanley International, Credit Suisse Securities (USA) LLC, Huaxing Capital Securities (Hong Kong) Limited, and Needham & Company, LLC acted as joint bookrunners.
Yiren Loan The application form for this initial public offering has been submitted to the US Securities and Exchange Commission and has been declared effective by the US Securities and Exchange Commission.This press release does not constitute an offer to sell or an invitation to purchase an offer;
If any state or jurisdiction's securities laws provide that such an offer, invitation, or sale is illegal prior to registration or eligibility, such securities may not be sold in those states or jurisdictions.
Yiren Loan Profile: Yiren Loan is China's leading online consumer finance platform, connecting investors and individual borrowers by providing efficient solutions for both lenders and borrowers, effectively matching borrowers and investors and executing loans with automated operations. The online platform for trading, Yiren loans is designed to address the largely unmet needs of most Chinese investors and individual borrowers. Pleasant lending's own risk management system enables the company to effectively assess the borrower's credit, make reasonable pricing in conjunction with the borrower's associated risks, and provide investors with high quality investment opportunities. The pleasant online market provides borrowers with a convenient way to access low-cost consumer credit, and allows investors to simply and quickly invest in asset classes with higher returns.