Ping An's lending and wealth management spinoff, valued above $39bn two years ago, has selected the New York Stock Exchange for its flotation.
Lufax, the China-based personal finance platform launched and spun off by insurer Ping An, filed for an initial public offering on the New York Stock Exchange yesterday with a $100m target.
Founded in 2011, Lufax has evolved from a peer-to-peer lending marketplace to a more diversified service that includes small businesses as well as wealth management services.
The company increased its net income slightly year on year to more than $3.63bn in the first six months of this year,…
