On the heels of the Ant Financial IPO news earlier this week leading Chinese online wealth management platform Lufax is...
The $1.3 billion round was led by private equity firm Primavera Capital and reportedly included Qatar Investment Authority, All-Stars Investment,...
One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.
Chinese lenders are moving into Southeast Asian countries to explore new opportunities in lightly regulated countries; according to Global Times, over 50 Chinese lenders have already launched overseas operations in countries like Indonesia and Cambodia; current entrants include well known names like CreditEase, Lufax and jimu.com; some lenders are opening up subsidiaries while others are focusing on partnerships with local companies. Source
The year is barely two weeks old and we have already learned of IPO plans for two of the world’s...
Hedosophia is not a household name, and that is by design. The fund is one of the most secretive investors...
According to a new report by BCG and Lufax there is a significant opportunity for digital wealth management firms; market...
Ping An Insurance has seen their market value double in the past year due to new business and their growing affiliate brands; online lender Lufax is valued at more than $18.5bn and Ping An Good Doctor is valued at more that $5.4bn; their growing portfolio is getting investors to ask if they are really an insurer or are they a technology company. Source.
Peter Renton, Founder of Lend Academy and Co-Founder of LendIt shares his perspective on the likely fintech IPOs in 2018. Source
One of China’s leading online wealth management companies Lufax is looking to go public in Hong Kong at a $60bn valuation; the South China Morning Post reports the company intends to file their application by the end of January; Lufax was last valued at $18bn in 2016, they have more than 33 million users and over $75bn in assets under management. Source.