Falls after co suspends semi-annual dividend
29/08/2018 12:53
** U.S.-listed shares of Chinese online finance co Yirendai
Ltd YRD.N down ~8 pct at $16.77 premarket; stock among biggest
losers on NYSE premarket
** Co temporarily suspended its semi-annual dividend on
Tuesday due to a challenging market environment
** Rival Qudian Inc QD.N said on Friday it is not relying
on individuals, but will depend on institutions for seeking
funds to avoid the liquidity concerns urn:newsml:reuters.com:*:nPnbqs8ZPa
** Yirendai says it is 'well-positioned' for the upcoming
P2P registration process like other peers such as PPDAI Group
Inc PPDF.N
** Another Chinese online-lender LexinFintech Holdings Ltd
LX.O last week said tightened liquidity in the P2P market,
which has led to smaller players’ exiting from the industry, is
positive and will foster a healthy growth urn:newsml:reuters.com:*:nGNX28JsYw
** YRD reported Q2 EPS of 50 cents/ADS vs analysts' est. of
65 cents; 2nd consecutive est. miss while most of its peers have
beaten Q2 est. urn:newsml:reuters.com:*:nL3N1VE3VS urn:newsml:reuters.com:*:nL3N1VF40E urn:newsml:reuters.com:*:nL3N1VD3PE
** YRD latest among the Chinese online-lenders to report Q2
results
** Up to Tuesday's close, stock had fallen 58.6 pct this
year
(Reporting by Diptendu Lahiri in Bengaluru)
((RM: diptendu.lahiri.thomsonreuters.com@reuters.net))