Deals
China Fintech Firm Lufax Seeks Up to $2.36 Billion in IPO
- U.S. IPOs by Chinese companies have boomed this year
- Lufax has pivoted from its peer-to-peer lending roots
Photographer: Johannes Eisele/AFP via Getty Images
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Chinese financial technology firm Lufax Holding Ltd., backed by Ping An Insurance Group Co., is looking to raise as much as $2.36 billion in an initial public offering that would be one of the biggest by a Chinese company this year on a U.S. exchange.
Lufax is marketing 175 million American depositary shares for $11.50 to $13.50 each, according to a filing Thursday with the U.S. Securities and Exchange Commission. Two ADS represent one ordinary share.