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KEY STAT | Chinese fintech unicorn Lufax to collect USD 2.36 billion in New York IPO

Written by Julianna Wu Published on 

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Lufax’s initial public offering would become one of the biggest by a Chinese company in the US this year.

Wealth management platform Lufax is to raise as much as 2.36 billion in its New York Stock Exchange debut by issuing 175 million American depositary shares, said the company’s latest prospectus filed on Thursday.

The unicorn’s IPO comes at a time when Ant Group, the world’s most-valued fintech firm, is preparing its Shanghai-Hong Kong dual listing that’s expected to raise USD 35 billion. Local Hong Kong media reported that Ant could be officially listed on November 5.

Backed by China’s finance and insurance conglomerate Ping An group (HKEX: 2318), Lufax’s initial offering would become one of the biggest by a Chinese company this year in the US, according to Bloomberg.

Read this: Ping An-backed fintech unicorn Lufax files for US IPO

This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.

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