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Chinese Online Microlender Qudian Invests in Luxury e-tailer Secoo

Chinese Online Microlender Qudian Invests in Luxury e-tailer Secoo

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Shares of Qudian, a New York-listed Chinese online microlender, closed up nearly 5% on Wednesday hours after announcing an agreement allowing it to buy shares in Nasdaq-listed Chinese online luxury retailer Secoo for $100 million.

 

Qudian will purchase Secoo’s 10.2 million newly issued class A ordinary shares at $9.80 each to become the latter company’s biggest shareholder with a 29% stake, according to twin statements from both companies.

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Featured photo : © Secoo

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