September 28, 2018 / 6:34 AM / 8 months ago

UPDATE 1-Funding Circle sets IPO price at 440 pence per share -statement

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LONDON, Sept 28 (Reuters) - British peer-to-peer lending platform Funding Circle IPO-FNIG.L on Thursday issued a final price of 440 pence per share for its initial public offering (IPO).

The British fintech company is the first large London IPO since before the summer and is expected to help to set the tone for a string of large listings in Europe.

The pricing was in the bottom half of the 420-530 pence price range set originally. Based on its offering size, it will sell around 440 million pounds in stock on the London Stock Exchange.

The first of Britain's new breed of peer-to-peer financial technology firms to go public is backed by Danish billionaire Anders Holch Povlsen and was launched in 2010.

In the six months ending June 2018, the business made an adjusted loss before interest, tax, depreciation and amortisation of 16.3 million pounds ($21.3 million) on revenue of 63 million pounds, up from 13.2 million pounds the previous year.

Funding Circle provides an online lending platform enabling investors to lend to small and medium-sized businesses in Britain, the United State, Germany and the Netherlands.

The investors on its platform include banks, asset-management companies, insurers, government-backed entities and funds. ($1 = 0.7649 pounds) (Reporting by Dasha Afanasieva Editing by David Goodman)

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