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Fintech Giant Lufax’s U.S. IPO Could Raise $2.36 Billion

By Tang Ziyi / Oct 26, 2020 11:51 AM / Finance

Fintech unicorn Lufax Holding Ltd. has become one of the latest Chinese companies to tap U.S. capital markets despite rising tensions between the two countries, setting out a price range for a New York IPO that could raise as much as $2.36 billion.

Lufax, which is backed by financial conglomerate Ping An Insurance (Group) Co. of China Ltd., plans to issue 175 million American depositary shares (ADSs) priced between $11.50 and $13.50 each, according to its updated prospectus filed with the U.S. Securities and Exchange Commission on Thursday.

The company could raise $2.36 billion if the shares are priced at the top of the range. An overallotment option could bring the total offering to 201.25 million ADSs, with an additional $354.4 million if they are priced at the top of the range, the prospectus showed.

To read the full story, click here.

Contact reporter Tang Ziyi (

Related: In Depth: Fintech Giant Lufax Has a Plan B if IPO Is No-Go

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