China-based non-banking financial services company VCREDIT, which is backed by global private investment firm TPG, has raised HKD1.6 billion (approximately US$201 million) through its initial public offering on the Hong Kong Stock Exchange. VCREDIT sold 78.7 million shares, an increase from the 68.6 million shares originally offered, at a price of HKD20 (approximately US$2.55) per share. The offering includes an HKD78 million (approximately US$9.9 million) cornerstone investment from China-focused private equity fund manager CITIC Capital.