Lufax Holding Ltd (ticker: LU), a leading Chinese financial services platform, has been announced as the target of a tender offer by An Ke Technology Company Limited and China Ping An Insurance Overseas (Holdings) Limited, both subsidiaries of Ping An Insurance (Group) Company of China, Ltd. The offer aims to purchase all American Depositary Shares (ADS) of Lufax at a price of $2.254 per ADS, which equates to $1.127 per ordinary share, with each ADS representing two ordinary shares. The tender offer is set to expire at 4:00 A.M., New York Time, on October 28, 2024, unless it is extended. Citibank, N.A. is serving as the depositary for the transaction. The offer has implications for options trading, with adjusted option symbols LU1/LU2 being introduced...Show More

Lufax Holding Ltd (ticker: LU), a leading Chinese financial services platform, has been announced as the target of a tender offer by An Ke Technology Company Limited and China Ping An Insurance Overseas (Holdings) Limited, both subsidiaries of Ping An Insurance (Group) Company of China, Ltd. The offer aims to purchase all American Depositary Shares (ADS) of Lufax at a price of $2.254 per ADS, which equates to $1.127 per ordinary share, with each ADS representing two ordinary shares. The tender offer is set to expire at 4:00 A.M., New York Time, on October 28, 2024, unless it is extended. Citibank, N.A. is serving as the depositary for the transaction. The offer has implications for options trading, with adjusted option symbols LU1/LU2 being introduced. The Options Clearing Corporation (OCC) has indicated that a contract adjustment for these options would be considered upon the successful completion of the tender offer. The OCC has also outlined the rights and obligations of members regarding securities settlement through the National Securities Clearing Corporation (NSCC), including 'protect' provisions for timely delivery of securities. The Offering Group has expressed intentions to keep Lufax listed on the NYSE post-offer. The OCC has provided a disclaimer stating that the information memo is an unofficial summary and should not be solely relied upon for investment decisions.