Yirendai opened flat in its trading debut at the New York Stock Exchange last Friday as the first Chinese peer-to-peer lending platform to go public in the United States.
Yirendai's initial public offering, the last one of the year on U.S. exchanges, raised $75 million after its American Depository Shares were priced at $10 each, the midpoint of the expected range of $9-11.
The shares were trading at the IPO price after about 20 minutes, valuing the company at about $1.15 billion.
"We are so excited as the listing is a big event for us and China's Internet finance industry," said Tang Ning, executive chairman and founder of Yirendai.
P2P lending refers to lending between individuals, or peers, without going through a traditional financial intermediary such as a bank.
The joint bookrunners for the offering are Morgan Stanley, Credit Suisse, China Renaissance and Needham.
Yirendai has ambitions to set up a benchmark for the industry via its IPO.
The company, which has about 6.7 million registered users, says it facilitated $984 million of loans in the first nine months of this year, up from $41 million in all of 2013.
Revenue rose to $138 million in the first three quarter from $13.1 million a year earlier. Net income was $30.8 million, compared with a year-earlier loss of $10.9 million.
The P2P platform was launched in 2012.