Ping An-backed Lufax seeks fresh capital

Chinese peer-to-peer lender Lufax is once again tapping investors ahead of a planned IPO next year.

Chinese peer-to-peer lender Lufax is back in the market seeking funds ahead of its planned IPO next year, according to people familiar with the situation.

Shanghai-based Lufax hopes that its second round of fund raising will value the entire company at a higher price than its Series A round of Rmb$3 billion $485 million from a group of institutional investors in March.

That private placement valued the four-year-old financial technology company at about $10 billion.

“The pre-IPO stake sale is a stepping stone that would set a valuation benchmark for the planned IPO,” said a person familiar with the situation.

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