News Snapshot:
Lufax Holding Ltd, one of China’s biggest wealth management platforms, on Wednesday filed to list its shares on the New York Stock Exchange, making it the third Chinese fintech firm to seek funds from the capital market this year. Though Lufax did not disclose any fundraising details, it said it would use the funds for technology research and development, construction of infrastructure, technology acquisition or mergers, as well as global expansion. According to available public information, Lufax completed its series C financing in December 2019, which amounted to $1.41 billion. Industry experts estimate that the company’s valuation should have reached...
