Companies & Funds, Financial Services, Fintech, Ipo

Companies & Funds, Financial Services

Lufax slips softly priced IPO past Ant hullaballoo

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:

10/30/2020 7:46:00 AM

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:

The Ping An-backed Chinese fintech outfit has garnered less hype than Jack Ma’s record-shattering rival. It isn’t growing as fast, but its online lending unit is profitable and established. A $33 bln valuation, at 13 times forecast 2021 earnings, makes for a compelling option.

Read more: ReutersBreakingviews »

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