- Quidan (NYSE:QD) was sharply lower earlier following a report of new rules in China aimed at corralling the burgeoning micro-loan industry.
- "As a socially responsible Fintech company, Qudian has been and will continue to proactively embrace regulatory changes," says the company.
- The buyback plan is raised to $300M of ADSs.
- Source: Press Release
- Shares are volatile in morning action, and currently up a fraction.
- Previously: Beijing cracks down on cash loan businesses - Reuters (Dec. 1)