Cofco and several banks will get the chance to exit Ping An's online lending spinoff, which is targeting $3bn in a US initial public offering.
Lufax, the online wealth management service spun off by insurance group Ping An and backed by several corporates, has confidentially filed for a $3bn initial public offering, Nikkei reported yesterday.
The company intends to float in the United States and the offering is slated to take place in the next two months, according to two people familiar with the transaction.
Formed in 2011, Lufax began life as an online peer-to-peer lending platform but has scaled that element of its business…
