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Short-seller Bonitas Research has attacked Beijing-based lender Hexindai, a US-listed Chinese peer-to-peer lender, accusing it of fraud/lying to investors about crucial performance indicators in the prospectus for its 2017 IPO on Nasdaq.
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A sweeping regulatory crackdown on debt and financial risk is expected to force out more than 1,400 lenders from the industry by the end of the year. As few as 50 companies could survive, with many others having already defaulted or expected to do so.
https://www.ft.com/content/675eb5e8-1956-11e9-9e64-d150b3105d21
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