Ping An is in line for an exit as its fintech spinout OneConnect files for an initial public offering potentially worth as much as $500m.
OneConnect Financial Technology, a Singapore-based fintech platform that is backed by insurance group Ping An, filed for an initial public offering on Wednesday.
The company set a placeholder amount of $100m and investment bank Renaissance Capital estimated the final figure could be as high as $500m.
OneConnect has not set any terms so far and is yet to decide whether to list on the New York Stock Exchange or Nasdaq Global Market.
Spun out of Ping An in 2017,…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
