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Chinese peer-to-peer lender Golden Bull reduces IPO size

Golden Bull Ltd, an online peer-to-peer lending platform in China, has cut the number of shares to be offered in its initial public offering to 1,550,000 from 2 million.

The shares will be priced at between $4.00 per share and $4.50 per share.

The proposed maximum aggregate offering price is $8.8 million, estimated solely to calculate the registration fee.

Golden Bull intends to invest the net proceeds in short-term, interest-bearing debt instruments or bank deposits.

The company will apply to list its shares on the Nasdaq under the symbol DNJR.

ViewTrade Securities Inc. is serving as the sole book-runner and lead managing underwriter for the offering.