OneConnect, the monetary know-how subsidiary of Chinese language insurance coverage big Ping An, has up to date its submitting for an preliminary public providing (IPO) with america Securities and Trade Fee (SEC).
In response to an F-1 filing dated Dec. 2, the agency is trying to promote $500 million price of shares in its IPO. The current submitting states:
“We anticipate that we’ll obtain internet proceeds of roughly US$438.2 million from this providing, or roughly US$504.6 million if the underwriters train their over-allotment choice in full.”
Stories circulating in November claimed that OneConnect initially sought approval for a $100 million IPO.
Within the submitting, the corporate explains that its platform offers “cloud-native know-how options” and its “options present know-how functions and technology-enabled enterprise companies to monetary establishments.”
Total, OneConnect claims that its companies permit prospects to extend income, handle dangers, enhance effectivity,…