Guangzhou-based mega-fintech Lufax is planning an IPO soon. The P2P lending pioneer may turn out the biggest stateside IPO for a Chinese company since Alibaba.
Lufax will issue 175 million shares for $11.50-13.50 per share. The company is seeking a valuation of up to $2.36 million. Despite rising tentions, Chinese companies are eager to make the US public debuts. Lufax's planned IPOs comes on the heels on Xpng Motors and Li Auto starting public trading earlier this year.
Trump has threatened to delist companies who do not meet American reporting requirements, which has led Chinese companies to raise large amounts of capital in Hong Kong.
Lufax is currently controlled by Chinese insurance giant Ping-An Group, which holds a 43% stake in the company. While the company has good relations with the Chinese company, its IPO was put on hold on the heels of increased regulations on P2P lending.