OneConnect nets $324m from NYSE follow-on

By Jonathan Breen
13 Aug 2020

OneConnect Financial Technology Co, a Chinese technology-as-a-service platform, raised $324m this week from a larger than expected follow-on offering of its US-listed stock.

The issuer, backed by Chinese financial services company Ping An Insurance, launched a sale of 16.5m new American Depository Shares (ADS) during US hours on Monday.

Joint bookrunners Goldman Sachs and Morgan Stanley built a book for the deal through Tuesday in the US. They found enough ...

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