Ping An's financial services spinoff raised $2.36bn in a US initial public offering that represented an exit for Bank of China, Cofco, SBI and several investment banks.
Lufax, the China-headquartered digital financial services platform operator spun off by insurance group Ping An, raised more than $2.36bn in an initial public offering in the United States on Friday.
The offering consisted of 175 million American Depositary Shares (ADSs), each representing half an ordinary share, issued on the New York Stock Exchange and priced at the top of its $11.50 to $13.50 range. The share price valued the company at almost $32.9bn.
Lufax operates an online peer-to-peer lending…
