LexinFintech Drops IPO Funding Target by over $300mn

With regulatory changes in China the online lender LexinFintech scaled back their IPO target from $500mn to $120mn; the company is looking to IPO next week and is offering 12 million shares at a price range of $9 to $11; recent IPOs by Chinese fintechs like Qudian have seen a significant drop in value after the regulatory push in China. Source.