Fintech Lufax aims to raise $2.36B

25. November 2020.

Chinese Fintech unicorn, Lufax Holding Ltd., has tapped into the U.S. capital markets setting a price range for a New York IPO that could raise as much as $2.36 billion, according to a report in CX Tech News.

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

If the shares are priced at the top of the range, raising $2.36 billion is certainly within reach. If they use the “greenshoe” overallotment option, it could bring the total offering to 201.25 million American depositary shares, with an additional $354.4 million as the updated prospectus showed.

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