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LU - Another China-based company Lufax seeks HongKong listing
Lufax Holding Ltd American Depositary Shares two of which representing one
China-based fintech company, Lufax ( NYSE: LU ) announced that it plans to go public in HongKong, being the latest to join NY-traded Chinese companies seeking alternative listings to hedge against the risk of being banned from U.S. markets.
Alibaba was also among the recent few who sought a primary HongKong listing.
It plans to file for listing in the second half of the year.
Both the countries are currently struggling to come to an agreement allowing American regulators to inspect audits of Chinese businesses and thereby forcing companies to leave U.S. exchanges.