Fintech

Ping An’s fintech baby OneConnect is ready to go public

As fintech continues to boom, OneConnect has filed for its US IPO. But given how much it depends on Ping An for business it will be hard to shake off the image that it is still Ping An's baby.

OneConnect filed for an IPO in the US on Thursday, showing off the global ambitions of Chinese fintech companies.

The company didn’t specify whether the stock would list on the New York Stock Exchange or Nasdaq. It only said that it intends to issue ordinary shares in the form of American Depositary Shares, or ADSs.

Fintech companies have been enthusiastic about developing technology that can be applied worldwide, and aiming for a global business is one reason why OneConnect has filed for its IPO in the US. Everyone wants to be the asset-light technology provider to supply the world.

One...

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