Ping An’s fintech unit, OneConnect leans towards New York over Hong Kong for IPO, say people familiar

Ping An Insurance Group’s OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said.Ping An Insurance, China’s biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to US$1 billion.The insurer is now seeking to list OneConnect in New York as… Source link

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