Chinese Fintech Giant Lufax Files for US IPO


Source: pandaily.com

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October 9, 2020 Lufax, one of China’s biggest wealth management platforms, filed for an initial public offering in the US on Thursday. The Shanghai-headquartered firm, which is backed by financial giant Ping An Insurance Group, China’s largest insurer, plans to list on the New York Stock Exchange under the ticker “LU,” according to a filing with the Securities and Exchange Commission. It joins Ant Group, an affiliate of Chinese e-commerce giant Alibaba Group , which is seeking $35 billion from a dual listing in Hong Kong and Shanghai and online retailer JD.com fintech affiliate Jingdong Digits Technology Holding, which aims...