Lending Club, the world’s biggest peer-to-peer lender, has priced its initial public offering at $15 a share to give the eight-year-old company a valuation of $5.4bn.
The pricing unveiled late on Wednesday was greater than the $12 to $14 a share range set out earlier this week by the San Francisco-based company, which began life with the goal of using new technology to disintermediate big banks and Wall Street.
That range was increased from the $10 to $12 a share set out at the beginning of this month, when Lending Club began marketing stock for its IPO.
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