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FINV - FinVolution Tests Regulatory Tolerance With First Asset-Backed Securities Issue
PPDAI Group Inc. American Depositary Shares each representing five Class A
Online loan facilitator FinVolution has issued its first batch of 200 million yuan worth of asset-backed securities as a new form of fundraising tool.
Move comes four months after the larger Ant Group canceled a much larger ABS sale totaling 18 billion yuan.
FinVolution also reported that the ratios of loans overdue for less than 90 days declined across the board, suggesting its overall loan quality improved.