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OneConnect Financial Tech. Expects IPO to Consist of 36 Million ADSs

   By Stephen Nakrosis 
 

OneConnect Financial Technology Co. Ltd. on Monday said its anticipated initial public offering in the U.S. will consist of 36 million American depository shares.

The company said it expects the offering to price at between $12 and $14 per ADS. Each ADS will represent three ordinary shares, the company said.

OneConnect said it applied to list its ADSs on the New York Stock Exchange under the symbol "OCFI."

OneConnect is the fintech unit of Ping An Insurance (Group) Co. of China.

OneConnect said it offers its technology-as-a-service platform to banks and insurance companies in China.

Morgan Stanley, Goldman Sachs (Asia) L.L.C., J.P. Morgan, Ping An of China Securities (Hong Kong) Co. Ltd., BofA Securities,​ HSBC, CLSA and​ KeyBanc Capital Markets are listed as underwriters for the offering.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

December 02, 2019 14:46 ET (19:46 GMT)

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