Lufax plans New IPO Issue in Hong Kong

HONG KONG . Chinese online peer-to-peer (P2P) lender Lufax is gearing up for an initial public offering (IPO) in Hong Kong, potentially before the end of next year.

The company's chief financial officer James Zheng said on Wednesday that while there was no timetable for the IPO yet, the firm is going to start planning for a public offering, The Wall Street Journal (WSJ) reported.

The IPO is a major test of investor appetite for China's burgeoning fintech industry, WSJ said in a report on Wednesday.

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