Lufax Holding Ltd., a smaller rival to Chinese financial-technology giant Ant Group Co., is seeking to raise as much as $2.4 billion from an initial public offering in the U.S. The deal is likely to put a substantially lower value on Lufax—which has reinvented itself after China cracked down on peer-to-peer lending, once a key business line—than a private fundraising last year.

Source: Wall Street Journal October 23, 2020 07:18 UTC