Lufax slips softly priced IPO past Ant hullaballoo

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Lufax has priced its $2.4 billion U.S. IPO at a much lower valuation than rival Ant. It may not be growing as fast, but its online lending unit is profitable and established. A $33 billion valuation makes for a compelling option, writes JennHughes13:

Lufax, a Chinese online lending service, plans to price shares in its U.S. initial public offering at the top of its $11.5 to $13.

5 price range, industry publication IFR has reported. The top price would value the company, backed by Chinese insurance company Ping An, at about $33 billion, excluding options and convertible shares.

 

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