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.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.