China's Lufax seeks U.S. IPO as early as this year - sources

中国的卢法克斯最早在今年寻求在美国上市-消息来源

2020/07/22 15:24  路透社
By Kane Wu, Julie Zhu and Echo Wang
HONG KONG/NEW YORK, July 22 (Reuters) - Lufax, one of China's largest online wealth management platforms backed by financial giant Ping An Insurance Group , is seeking a U.S. initial public offering as early as this year, people with direct knowledge told Reuters.
The Shanghai-based company has enlisted Bank of America, Goldman Sachs, HSBC, JP Morgan and UBS to work on the offering, according to three of the people, who declined to be named due to confidentiality constraints. The banks declined to comment.
Lufax is currently preparing the confidential filing for the IPO, two of them said. It has not decided how much to raise in the offering or the valuation, the people added.
The company was valued at $38 billion before its latest fundraising in 2018, Reuters reported at the time.
The company declined to comment.
Chinese companies have raised $47.5 billion from initial and secondary public offerings this year, nearly half of the global volume, Refinitiv data showed. Only 6% of the total 237 offerings made so far this year have been in U.S. markets due to tightened regulatory scrutiny amid China-U.S. tensions.
Some Chinese fintech companies nevertheless have found it easier to list in the United States than in Hong Kong where they have to satisfy the bourse's Listing Committee of their suitability, a step not required in the United States.
The committee has previously rejected companies whose business models it had doubts over. Cryptocurrency miner makers for example Canaan and Ebang went on to list in the U.S after being denied by Hong Kong.
Lufax will be following OneConnect Financial Technology , another fintech company backed by Ping An, which raised $312 million in December and has seen its shares more than double since.
Set up in 2011 as a P2P platform by Ping An, Lufax has however been exiting the once core business as China cracked down on the sector to contain financial risks.
The startup postponed a Hong Kong float slated for the first half of 2018 amid uncertainty over China's consumer lending regulation, sources have said.
Later that year, it raised $1.33 billion at a lowered valuation from a dozen investors.

(Reporting by Kane Wu and Julie Zhu in Hong Kong and Echo Wang
in New York; additional reporting by Alun John in Hong Kong;
Editing by Simon Cameron-Moore)
((kane.wu@thomsonreuters.com; +85228436590; Reuters Messaging:
kane.wu.thomsonreuters.com@reuters.net)
作者:Kane Wu,Julie朱和Echo Wang
路透香港/纽约7月22日-直接知情人士对路透表示,金融巨头平安保险集团支持的中国最大在线财富管理平台之一陆金所(Lufax)正寻求最早于今年在美国进行首次公开募股(IPO)。
据其中三名知情人士透露,这家总部位于上海的公司已聘请美国银行(Bank Of America)、高盛(Goldman Sachs)、汇丰(HSBC)、摩根大通(JP Morgan)和瑞银(UBS)参与此次发行。由于保密限制,这些知情人士拒绝透露姓名。这些银行拒绝置评。
其中两人表示,卢法克斯目前正在准备IPO的机密申请。知情人士补充说,该公司尚未决定在此次发行或估值中筹集多少资金。
据路透社(Reuters)当时报道,在2018年进行最近一次融资之前,该公司的估值为380亿美元。
该公司拒绝置评。
Refinitiv的数据显示,中国企业今年通过首次公开募股(IPO)和二次公开募股(IPO)筹集了475亿美元,几乎占全球总量的一半。由于在中美关系紧张的情况下加强了监管审查,今年迄今总共237宗IPO中,只有6%是在美国市场进行的。
然而,一些中国金融科技公司发现,在美国上市比在香港更容易,在香港,它们必须让香港交易所的上市委员会满意自己的适当性,这一步骤在美国并不是必需的。
该委员会此前曾拒绝其商业模式存疑的公司。加密货币矿商迦南(Canaan)和亿邦(Ebang)等加密货币制造商在被香港拒绝后,继续在美国上市。
卢法克斯将追随金融科技金融科技的脚步,后者是平安支持的另一家公司,去年12月筹集了3.12亿美元,自那以来其股价上涨了一倍多。
然而,随着中国为遏制金融风险而打击该行业,作为平安于2011年成立的P2P平台,陆金所一直在退出这项曾经的核心业务。
消息人士称,由于中国消费贷款监管的不确定性,这家初创公司推迟了原定于2018年上半年在香港上市的计划。
当年晚些时候,它从十几个投资者那里以较低的估值筹集了13.3亿美元。

(Kane Wu和Julie朱香港报道,Echo Wang报道
纽约;阿伦·约翰(Alun John)香港补充报道
编辑:西蒙·卡梅隆-摩尔)
(kane.wu@thomsonreurs.com;+85228436590;路透社消息:
Kane.wu.thomsonreurs.com@reurs.net)

免责声明:中文翻译由腾讯翻译君提供支持,富途对翻译信息的准确性或可靠性所造成的任何损失不承担任何责任。

Copyright©2019 FUTU. All rights reserved. FUTU does not provide any investment advice.