Lufax Holding (LU) Announces Pricing of Initial Public Offering at $13.50/ADS

Lufax Holding Ltd (“Lufax” or the “Company”), a leading technology-empowered personal financial services platform in China, today announced the pricing of its initial public offering of 175,000,000 American Depositary Shares (“ADSs”), each two ADSs representing one ordinary share of the Company, at a price to the public of US$13.50 per ADS for a total offering size of US$2.3625 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange on October 30, 2020, under the symbol “LU.” The closing of the offering is expected to occur on November 3, 2020, subject to the satisfaction of customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 26,250,000 additional ADSs at US$13.50 per ADS.

Goldman Sachs (Asia) L.L.C., BofA Securities, Inc., UBS Securities LLC, HSBC Securities (USA) Inc. and China PA Securities (Hong Kong) Company Limited are acting as active joint bookrunners and representatives of the underwriters for the offering. Morgan Stanley & Co. LLC, CLSA Limited and Jefferies LLC are acting as joint bookrunners for the offering. J.P. Morgan Securities LLC, BOCI Asia Limited, Haitong International Securities Company Limited, Stifel, Nicolaus & Company, Incorporated, China Renaissance Securities (Hong Kong) Limited and KeyBanc Capital Markets Inc. are acting as co-managers for this offering.

You May Also Be Interested In

• American Savings Bank closes upsized IPO at $16 per share
• Softbank-backed Sb Energy Delays Its IPO- NYT
• Trump discloses July trades in SpaceX