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Chinese peer-to-peer lender Golden Bull prices IPO at bottom end of range

Golden Bull Ltd has priced its IPO of 1,550,000 ordinary shares at $4.00 per share, for gross proceeds of approximately $6.2 million.

The per-share price represents the lower end of the target price range of $4.00 to $4.50.

The company has granted the underwriters a 45-day option to purchase up to an additional 232,500 common shares at the IPO price, less underwriting discount and commissions.

The shares are scheduled to begin trading on the Nasdaq Capital Market on March 20 under the ticker symbol DNJR. The offering is expected to close March 22.

ViewTrade Securities Inc. is acting as sole book-running manager for the offering. Ellenoff Grossman & Schole LLP is acting as counsel to Golden Bull. Kaufman & Canoles PC is acting as counsel to the underwriter.