China based P2P lending platform has set terms for its IPO underwritten by Morgan Stanley and Deutsche Bank which values the company at $1.6b.
X Financial was founded in 2014 and booked $442 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol XYF. Deutsche Bank and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.