We expect good news for the high growth peer to peer lending market with the upcoming IPO of US market leader Lending Club. This is an interesting space to watch!
LendingClub Corp. today set the price targets for an IPO that would raise up to $796.3 million, about 59 percent more than it planned to raise in its original public filing. The San Francisco company led by CEO Renaud LePlanche said it plans to sell 57.7 million shares at between $10 and $12 each on the New York Stock Exchange, listing as "LC." It is offering underwriters the option to buy another 8.7 million shares. At the top of its price range, LendingClub would be valued at about $4.4 billion.