Chinese Fintech Company Lufax Considering a US IPO This Year

On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is seeking a US IPO as soon as this year; the former peer to peer lending platform is now one of the leading fintech companies in China and has been flirting with an IPO for years; Lufax initially planned to do an IPO in Hong Kong in 2018 but postponed those plans due to uncertainty over China’s consumer lending regulation; the company was valued at $38 billion at its latest fundraising in 2018; according to Reuters, Lufax has enlisted Bank of America, Goldman Sachs, HSBC, JP Morgan and UBS to work on the US offering. Reuters.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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