Ping An’s OneConnect aiming to raise $500 million in IPO – Ledger Insights

  • Today, OneConnect the blockchain and AI spin-off from China’s Ping An will launch a U.S. initial public offering (IPO) for about $500 million, according to a Reuters report .
  • Last month , the company made a preliminary registration with the SEC for a $100 million IPO.
  • Yesterday an updated SEC filing was published showing the maximum amount as $579.6 million, but $504 million ignoring underwriter options.
  • Specifically, the company is issuing 36 million American Depositary Shares (ADS) on the New York Stock Exchange (NYSE).

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