Chinese micro-lender to delay US IPO pricing: source

Beijing

CHINESE consumer lending firm Lexinfintech will delay the pricing of its planned Nasdaq IPO to conduct more due diligence, a source with direct knowledge of the situation said - a move that comes after Beijing issued new rules to tighten control of the micro-loan sector.

China's financial regulators on Friday circulated new regulations to local governments targeting fast-growing online micro-lenders, including a ban on loans to borrowers who have no source of income.