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Zhong Lun Advises on Lufax’s IPO on NYSE

Release time：2020-10-30 Voice Announcements

On October 30, 2020, Lufax Holding Ltd (NYSE: LU) announced its initial public offering and listing of American depositary shares on the New York Stock Exchange. The total offering size will be approximately US$2.3625 billion prior to the exercise of the over-allotment option, which makes it both the largest ever fintech IPO and the biggest Chinese IPO since 2015 in the US. Goldman Sachs, BofA, UBS, HSBC, and China PA Securities acted as the joint bookrunners for this offering.

As a leading technology-empowered personal financial services platform in China, Lufax primarily utilizes its customer-centric product offerings and offline-to-online channels to provide retail credit facilitation services to small business owners and salaried workers in China as well as tailor-made wealth management solutions to China’s rapidly growing middle class. As of June 30, 2020, Lufax’s total balance of retail credit facilitated reached RMB519.4 billion, and the total client assets generated through Lufax’s online wealth management platform reached RMB374.7 billion, ranking Lufax number two and number three, respectively, among non-traditional financial service providers in China.

Zhong Lun Law Firm acted as the PRC legal advisor to the joint bookrunners in this offering. The legal team from Zhong Lun was led by Anthony Zhao and William Jia, and included Roy Zheng, Cynthia Yuan, etc. Jeffrey Liu also provided legal support in his area of expertise.

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Zhong Lun Advises on Lufax’s IPO on NYSE