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China Lufax Valued at $60 Billion in Potential HK IPO

China Lufax Valued at $60 Billion in Potential HK IPO

China Ping An Group subsidiary, Lufax, is planning for a Hong Kong IPO in April 2018 that could value the firm around $60 billion.  Lufax (Shanghai Lujiazui International Financial Asset Exchange Co), is one of China’s largest online wealth management platform, has 33 million registered users and 500 billion yuan or in USD, $77.38 billion AUM.

” China Lufax Planning for HK IPO Valued at $60 Billion “

The IPO is expected to raised about $5 – $6 billion.  In 2017, Citic Securities, Citi Group, JP Morgan, Morgan Stanley and Goldman Sachs have been appointed joint sponsors for the IPO.  The international site can be visited via https://www.lu.com

Source: South China Morning Post, Reuters

 

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About Lufax

Shanghai Lujiazui International Financial Asset Exchange Co.,Ltd. owns and operates an online wealth management platform that provides investment and financing services. It also offers peer to peer lending services. The company provides financial assets management services. Additionally, it operates in advisory, development, design, and trading services of financial products and research and digital analysis of financial market. Shanghai Lujiazui International Financial Asset Exchange Co.,Ltd. was founded in 2012 and is based in Shanghai, China. – Bloomberg

Visit: lufax

 


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