On October 30, 2020 (US Eastern Time), the trading of the American Depositary Shares (“ADSs”) of Lufax Holding Ltd (“Lufax”) commenced on the New York Stock Exchange (stock code: LU). Lufax offered 175,000,000 ADSs (before the exercising of the over-allotment option), which Representing 87,500,000 Ordinary Shares, at the initial public offering price of US$13.5 per ADS. Lufax raised approximately US$2.3625 billion in gross proceeds (“Offering”). The Offering is the largest ever fintech IPO and the biggest Chinese IPO since 2015 in the US.
Lufax is a leading technology-empowered personal financial services platform in China. Lufax primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. As of June 30, 2020, Lufax’s total balance of retail credit facilitated reached RMB519.4 billion, and the total client assets generated through Lufax’s online wealth management platform reached RMB374.7 billion.
Haiwen & Partners, as the PRC legal counsel of Lufax, provided legal services to Lufax’s several rounds of financing and this Offering, as well as professional legal advice and effective solutions to Lufax with respect of the PRC laws.
Haiwen team advising on this Offering is led by Ji Hu, and the team members include Yuqing Gu, Jue Huang, Lu Liu, Min Li, Lu He and other colleagues.
On October 30, 2020 (US Eastern Time), the trading of the American Depositary Shares (“ADSs”) of Lufax Holding Ltd (“Lufax”) commenced on the New York Stock Exchange (stock code: LU). Lufax offered 175,000,000 ADSs (before the exercising of the over-allotment option), which Representing 87,500,000 Ordinary Shares, at the initial public offering price of US$13.5 per ADS. Lufax raised approximately US$2.3625 billion in gross proceeds (“Offering”). The Offering is the largest ever fintech IPO and the biggest Chinese IPO since 2015 in the US.
Lufax is a leading technology-empowered personal financial services platform in China. Lufax primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. As of June 30, 2020, Lufax’s total balance of retail credit facilitated reached RMB519.4 billion, and the total client assets generated through Lufax’s online wealth management platform reached RMB374.7 billion.
Haiwen & Partners, as the PRC legal counsel of Lufax, provided legal services to Lufax’s several rounds of financing and this Offering, as well as professional legal advice and effective solutions to Lufax with respect of the PRC laws.
Haiwen team advising on this Offering is led by Ji Hu, and the team members include Yuqing Gu, Jue Huang, Lu Liu, Min Li, Lu He and other colleagues.
Beijing ICP No. 05019364-1 Beijing Public Network Security 110105011258
