Rumor: Lufax to List on Hong Kong Stock Exchange in 2016
DoNews, 11/27/15
Shanghai-based online third-party financing and financial asset exchange platform Lujiazui International Financial Asset Exchange (Lufax) will reportedly submit an application for a Hong Kong IPO in May or June of next year, barring any unforeseen developments, revealed an inside source. The IPO could take place in Q2 or Q3 2016 and raise upwards of USD 5 bln.
As of the Q3 2015, Lufax had 15 mln cumulative registered users, according to company data. The total transaction volume for the first three quarters of 2015 reached RMB 926.4 bln, up 900% YoY. Personal retail transactions reached RMB 317.4 bln, up more than 600% YoY, among which P2P accounted for RMB 29.9 bln.
Editor's note: For more information on this topic, please see "Rumor: Ping An-backed Lufax Looking to Raise Pre-IPO Funds," MD 11/17/15 issue.
Keywords: online lending Internet IPO Hong Kong Stock Exchange P2P Lufax financial services