Lufax may find three’s a China fintech IPO crowd

Qfin Holdings

19/10/2020 04:06

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Jennifer Hughes
    HONG KONG, Oct 19 (Reuters Breakingviews) - It’s like the
proverbial bus: long waits before multiple new share sales
arrive at once. The Ping An-backed outfit, last valued at $39
bln, is touting small-business bona fides to stand apart from
Ant and JD Digits. New York could be a tougher venue to make the
case, however. 
    Full view will be published shortly.
    On Twitter https://twitter.com/JennHughes13
    
    CONTEXT NEWS
    - Lufax, a Chinese online lending platform, on Oct. 7
submitted documents to U.S. regulators for an initial public
offering in New York, where it is aiming to raise about $3
billion. Originally started in 2005 by Chinese insurer Ping An,
Lufax was last valued at about $39 billion in a private
fundraising round whose details were disclosed in March 2019.
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click on  HUGHES/ 
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Lufax’s prospectus filing    https://www.sec.gov/Archives/edgar/data/1816007/000119312520265571/0001193125-20-265571-index.htm
China's Lufax files for $3 billion U.S. IPO     urn:newsml:reuters.com:*:nL4N2GZ216
China's Lufax seeks U.S. IPO as early as this year: sources   
 urn:newsml:reuters.com:*:nL3N2ET0ZK
BREAKINGVIEWS: Ping An’s fintech halo is losing its glow   
 urn:newsml:reuters.com:*:nL4N28D0FK
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 (Editing by Jeffrey Goldfarb and Katrina Hamlin)
 ((jennifer.hughes@thomsonreuters.com; Reuters Messaging:
jennifer.hughes.thomsonreuters.com@reuters.net))