Lufax Holding Ltd

General Information

We are a leading technology-empowered personal financial services platform in China. Our mission is to make retail borrowing and wealth management easier, safer and more efficient. We primarily address the large unmet demand for personal lending among small business owners as well as salaried workers in China, and we provide tailor-made wealth management solutions to China’s fast-growing middle-class and affluent population. As of June 30, 2020, our total balance of retail credit facilitated reached RMB519.4 billion (US$73.5 billion), and the total client assets generated through our online wealth management platform reached RMB374.7 billion (US$53.0 billion), ranking us No. 2 and No. 3, respectively, among non-traditional financial service providers in China such as fintech companies, online-only TechFin companies and online lending platforms, according to Oliver Wyman. The history of our retail credit facilitation business dates back to August 2005, when Ping An Group launched a consumer loan business in Shenzhen, China. The history of our wealth management business dates back to September 2011, when Ping An Group established its wealth management subsidiary in Shanghai. (Revenue and net income are in U.S. dollars for the six months ended June 30, 2020, according to the prospectus.)

Industry: Wealth management
Employees: 60000
Founded: 2005
Contact Information
Address No. 1333 Lujiazui Ring Road 15/F Pudong New District, Shanghai People’s Republic of China
Phone Number +86 21-38632121
Web Address
View Prospectus: Lufax Holding Ltd
Financial Information
Market Cap $82228.3mil
Revenues $3635.0 mil (last 12 months)
Net Income $1029.0 mil (last 12 months)
IPO Profile
Symbol LU
Exchange NYSE
Shares (millions): 175.0
Price range $13.50 - $13.50
Est. $ Volume $2362.5 mil
Manager / Joint Managers Goldman Sachs/ BofA Securities/ UBS Investment Bank/ HSBC/ China PA Securities (Hong Kong) Company Limited
CO-Managers Morgan Stanley/ CLSA/ Jefferies/ J.P. Morgan/ BOC International/ Haitong International/ Stifel/ China Renaissance/ KeyBanc Capital Markets
Expected To Trade: 10/30/2020
Status: Priced
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