Chinese fintech company Lufax seeks up to $ 2.4 billion in U.S. IPO

Ant Group Co, a major financial technology company in China. Lufax Holding Ltd., a small rival of the company, is seeking to raise up to $ 2.4 billion from an initial public offering in the United States. The deal could bring significantly lower value to the lufax, which was reinvented after China cracked down on peer-to-peer lending, which was once a major business line, compared to last yearࢀ™s private funding. According to a submission Thursday, Lufax, an online lending and investment platform, aims to sell 175 million American Depositary Receipts in the $ 11.50 to $ 13.50 range, respectively. This…