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FT.com - China, Economy & TradeOct 30, 2020
Ping An-backed Lufax defies geopolitical tension with $2.4bn US IPO
Chinese online lender debuts on New York Stock Exchange

MarketWatch MarketPulseOct 30, 2020
Lufax stock stumbles out of the gate, opens 14% below IPO price
Lufax Holding Ltd. picked a rough day to go public, as shares of the China-based online lender to small businesses and salaried workers opened 14.0% below the initial public offering price amid a sharp selloff in the broader stock market. The first trade on the NYSE was at $11.60 at 11:33 a.m. Eastern for 4.2 million shares, below the IPO price of $13.50. The disappointing opening comes as the Renaissance IPO ETF slumped 4.2%, the iShares MSCI China ETF shed 2.0% and the S&P 500 dropped 1.8%. Lufax's stock has bounced slightly since the opening, as it was last down 11.1% at $12.00.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Lufax stock indicated to open below IPO price, as China-based lender raised $2.4 billion (MarketWatch MarketPulse)
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