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Chinese Insurance Giant Ping An's Blockchain Subsidiary Looks For IPO To Raise $432 Million

Roland James

Summary: OneConnect Financial Technology, the blockchain and AI subsidiary of Ping An Insurance, has updated their terms for their initial public offering (IPO). According to the updated F-1 filing with the U.S. Securities and Exchange Commission (SEC) the firm looks to raise between $432 million and $504 million via the offering of 36 million American depositary ...

OneConnect Financial Technology, the blockchain and AI subsidiary of Ping An Insurance, has updated their terms for their initial public offering (IPO).

According to the updated F-1 filing with the U.S. Securities and Exchange Commission (SEC) the firm looks to raise between $432 million and $504 million via the offering of 36 million American depositary shares (ADS) at $12 to $14 per share. This is a much bigger than the original figure of $100 million.

By Roland James

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Link: Chinese Insurance Giant Ping An's Blockchain Subsidiary Looks For IPO To Raise $432 Million   [Copy]
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