Chinese peer-to-peer (P2P) lender Lufax is not in a hurry to list on the stock markets, said an executive of its biggest shareholder, Ping An Insurance, during its earnings call, Chinese media reported (in Chinese) on Wednesday.

Ping An Insurance Group deputy CEO Jessica Tan said after Lufax’s latest round of funding, Ping An still holds approximately 41% of its shares. Lufax has access to enough capital and so it has the flexibility to choose the time and place of its initial public offering (IPO). Tan said the online lending platform is not “under urgent pressure to announce its IPO plans” (our translation).

Ping An confirmed rumors of Lufax’s $1.3 billion Series C in its annual financial report on Tuesday, an investment which bumped the company’s valuation to more than $39.4 billion—just short of its original $40 billion target.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.