Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Ping An Insurance (Group) Company of China, Ltd.    2318   CNE1000003X6

PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.

(2318)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

China wealth manager platform Lufax aims to raise $2.36 billion in U.S. IPO

10/22/2020 | 11:34pm EST
FILE PHOTO:  A sign of wealth management platform Lufax is seen during an expo in Beijing

HONG KONG (Reuters) - Lufax Holding Ltd, one of China's largest online wealth management platforms, aims to raise up to $2.36 billion (1.8 billion pounds) in a U.S. initial public offering just days before the Nov. 3 election.

A filing with the Securities and Exchange Commission (SEC) showed Lufax plans to sell 175 million American Depository Shares (ADS) within a price range of $11.50 to $13.50 each.

There is a so-called green shoe option to sell a further 26.25 million ADS that can be exercised within 30 days of listing. It will list the ADS on the New York Stock Exchange.

The deal's launch comes just before the U.S election which analysts expect could prompt a renewed burst of market volatility around the Nov. 3 polling date.

Lufax is briefing Asian investors Friday, showed a term sheet reviewed by Reuters, and will speak with prospective U.S. and European buyers on Monday.

The price of the stock is due to be finalised Thursday, the term sheet showed.

Lufax, backed by Ping An Insurance Group Co of China Ltd, postponed a Hong Kong listing slated for the first half of 2018 amid uncertainty over China's consumer lending regulation.

(Reporting by Scott Murdoch in Hong Kong; Editing by Christopher Cushing)

By Scott Murdoch


© Reuters 2020
All news about PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
12/02PING AN RESEARCH : ESG Investing Showing Dramatic Growth in China in 2020, Outpe..
PR
12/01PING AN INSURANCE : Monthly Return of Equity Issuer on Movements in Securities f..
PU
11/23IMD CASE STUDY : Ping An's Rise as a Technology Giant Yields Key Business Lesson..
PR
11/18PING AN INSURANCE OF CHINA : Asset Management ranked China's No.1 and world's No..
PR
11/17PING AN INSURANCE OF CHINA : Bank Wins Gartner Innovation Award for Financial Se..
PR
11/12PING AN INSURANCE : Announcement of Premium Income
PU
11/11PING AN INSURANCE OF CHINA : Property & Casualty Named Digital Insurer of the Ye..
PR
11/10PING AN : China's SMEs Need Financial and Technological Boost for Digital Transf..
PR
11/02PING AN INSURANCE OF CHINA : Monthly Return of Equity Issuer on Movements in Sec..
PU
10/30China's Lufax falls 14% in New York debut after $2.36 billion IPO
RE
More news
Financials
Sales 2020 1 033 B 158 B 158 B
Net income 2020 129 B 19 693 M 19 693 M
Net Debt 2020 - - -
P/E ratio 2020 11,0x
Yield 2020 2,68%
Capitalization 1 588 B 243 B 243 B
Capi. / Sales 2020 1,54x
Capi. / Sales 2021 1,36x
Nbr of Employees 372 194
Free-Float 82,4%
Chart PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
Duration : Period :
Ping An Insurance (Group) Company of China, Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 28
Average target price 90,27 CNY
Last Close Price 80,48 CNY
Spread / Highest target 27,3%
Spread / Average Target 12,2%
Spread / Lowest Target -8,53%
EPS Revisions
Managers
NameTitle
Bo Yao Co-CEO, CFO, Executive Director & Chief Actuary
Sin Ying Tan Co-CEO, COO, Executive Director & Executive VP
Yong Lin Xie President, Co-CEO & Executive Director
Ming Zhe Ma Chairman
Jian Yi Sun Chairman-Supervisory Board