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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Chinese Internet Insurer Selects Credit Suisse, JP Morgan, UBS to Sponsor HK IPO

Chinese Internet Insurer Selects Credit Suisse, JP Morgan, UBS to Sponsor HK IPO

Zhong An Online Property and Casualty Insurance has tapped three banks as sponsors of $2 billion initial public offering in Hong Kong. Backed by Chinese internet companies Tencent Holdings Ltd and Ant Financial, Zhong An picked Credit Suisse, JP Morgan, and UBS to lead the offering, which is expected to take place in 2017.

“Zhong An Online Property and Casualty Insurance has tapped three banks as sponsors of $2 billion initial public offering in Hong Kong.”

~Reuters

The Zhong An listing would come as China’s biggest peer-to-peer lending platform, Lufax, is also looking to go public in a $5 billion deal. Lufax, which is backed by Ping An Insurance Co of China Ltd  is in talks with four investment banks including Citigroup and Morgan Stanley to lead its listing.

Related Reports: Reuters, Business Insider

 

About Zhong An Online Property and Casualty Insurance

Zhong An Online P&C Insurance Co., Ltd. offers online insurance services. The company offers e-commerce, mobile payment, and financing guarantee for Internet businesses and users. The company was founded in 2013 and is headquartered in Shanghai, China.

 

Visit: Zhong An 


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