Ping An fintech arm chooses US over Hong Kong for IPO

Ping An fintech arm chooses US over Hong Kong for IPO

OneConnect, the financial technology arm of China’s largest insurance company, has picked the US over Hong Kong to launch its long-awaited initial public offering. Bankers were estimating the company, which is also backed by SoftBank, could raise up to $2bn in a potential Hong Kong listing, according to a Financial Times report last year.