Money outflow

Chinese asset manager kick-starts IPO process

Lixiangjia quadrupled sales last year and doubled them in the first six months of this year. It has now begun the process to list overseas.

Beijing-based asset allocation platform Lixiangjia said on Thursday that it had completed its $45 million Series D funding. The company didn't disclose the name of investors.

Meanwhile, the startup has begun the auditing process for an overseas IPO, according to an unnamed source at a New York investment bank.

Founded in 2013, Lixiangjia is a platform that provides financial products to Chinese clients in different countries and regions. These include overseas stocks, funds, insurance, and real estate products.

The company targets Chinese financial planners who are looking for overseas assets for their high net-worth clients. Lixiangjia claims to serve 160,000 financial...

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