China's Lufax seeking US$60b valuation in Hong Kong IPO

Hong Kong

CHINA'S largest online wealth management platform, Shanghai Lujiazui International Financial Asset Exchange, or Lufax, is seeking a valuation of US$60 billion with its April initial public offering in Hong Kong, the South China Morning Post reported on Monday.

Shanghai-based Lufax, which was set up by Ping An Insurance Group in 2011, aims to file a listing application at the end of January, the newspaper said, citing sources close to the company.