Chinese Fintech Lender Lufax May Delay IPO Amid Market Conditions: Bloomberg
Posted: Wed May 25, 2016 7:46 am
Chinese fintech lender Lufax, which operates Lu.com and known by its company name Shanghai Lujiazui International Financial Asset Exchange Co., may be delaying its Initial Public Offering (IPO) until next year, according to reports by Bloomberg.
In January, the company raised funds that valued it at $18.5 billion, and although the firm’s CEO Gregory Gibb said at that time how an IPO could be in the works this year, as per the Bloomberg article, he now thinks it may take more time amid market challenges and regulatory uncertainties.
Lufax provides Peer-to-Peer (P2P) lending solutions as a financial services product and read more)