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Reuters Lufax Holding Ltd one of China39;s largest online wealth management platforms, on Friday priced shares in its U.S initial public offering IPO at 13.50 apiece, valuing the offering at 2.36 billion, two sources familiar with the matter said.
The price for the IPO of 175 million American depository shares ADS is at the top of the previously stated price range of 11.50 to 13.50 per share.
The sources could not be named because the information had not yet been made public.
Lufax did not immediately respond to a request for comment.
The IPO values Lufax as a whole at 32.9 billion, below the 39.4 billion in its last fundraising in late 2018, according to data provider PitchBook.
It is the secondlargest U.S. IPO so far in 2020, after data warehouse company Snowflake Inc and excluding those of shell special purpose acquisition companies SPACs. The IPO comes against the backdrop of whiplashing financial markets with the SP 500 and the Dow hitting their lowest levels since lateSeptember earlier in the week, as coronavirus cases surge globally and prospects grow of a contested U.S. presidential election.
It is the secondlargest U.S. IPO so far in 2020, after data warehouse company Snowflake Inc and excluding those of shell special purpose acquisition companies SPACs. The IPO comes against the backdrop of whiplashing financial markets with the SP 500 and the Dow hitting their lowest levels since lateSeptember earlier in the week, as coronavirus cases surge globally and…
