Lufax sees listing helping growth
Published: Nov 07, 2016 09:58 PM
Lufax, China's biggest peer-to-peer lending and wealth management platform, sees a potential listing helping fund expansion at home and abroad, though it has set no specific timeline for a deal, Chief Executive Officer Gregory Gibb said on Monday.

Valued at $18.5 billion when it raised $1.2 billion from a group of investors in January, Lufax picked four banks to prepare a Hong Kong IPO that could raise $5 billion, sources said previously. Chinese insurer Ping An Insurance is its biggest investor.

"Whether it's for supporting domestic growth or supporting, eventually, international moves ... if you have that flexibility, it's a good thing to have," Gibb said, speaking on the sidelines of a financial technology conference in Hong Kong.
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