Following Canaan, OneConnect Cuts its IPO Ambitions in Half

OneConnect Financial Technology, a unit of China’s major insurer Ping An, aims to raise up to USD 504 million in an initial public offering (IPO), compared to USD 1 billion, reportedly considered in June this year. The IPO was launched yesterday after the company reduced both its target offering size and valuation, according to their updated prospectus with the U.S.  Read more »
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