Ping An Insurance

Ping An gears up for IPO of its health care tech unit on Hong Kong stock exchange

PUBLISHED : Monday, 29 January, 2018, 8:44pm
UPDATED : Monday, 29 January, 2018, 8:44pm

Ping An Insurance said on Monday evening that it has got the go-ahead from the Hong Kong exchange to list its health care technology unit on the main board.

“The stock exchange has confirmed that the company may proceed with the proposed spin-off and listing of Ping An Healthcare and Technology,” Ping An said.

The application proof of the unit’s prospectus will be available on the exchange’s website from January 30, which contains relevant business and financial information.

Following the listing, Ping An Insurance will remain as a controlling shareholder.

Ping An Insurance has planned to list a few of its subsidiaries on the stock market this year.

Lufax or Shanghai Lujiazui International Financial Asset Exchange, a major online wealth management platform, is considering postponing its Hong Kong listing plan, said another source familiar with the matter.

Lufax had originally planned for an IPO in April, which would value it at US$60 billion, making it the largest listing by a fintech company in Hong Kong.