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Micro-Lending Tycoon Set to Become China's Latest IPO Billionaire

  • Min Luo, founder of Qudian, controls about 20% of the company
  • Beijing business is latest IPO for booming fintech industry
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Surging valuations for Chinese fintech startups are about to turn micro-lending tycoon Min Luo into the country’s latest IPO billionaire.

Luo, 34, founder and chief executive officer of online loan provider Qudian Inc., owns about a fifth of the company, which hopes to raise as much $825 million in a U.S. initial public offering this month. The price range values the business at a minimum of $6.3 billion based on the shares it will have outstanding after the offering, and gives Luo a net worth of at least $1.2 billion, according to the Bloomberg Billionaires Index.