TCS - IPO Update: OneConnect Proposes U.S. IPO Terms
Quick Take
OneConnect (OCFT) has filed to raise $468 million in a U.S. IPO of its ADSs, per an amended registration statement.
The company provides a suite of financial operations management software tools to financial institutions in China and the greater Asian region.
OCFT has a potentially bright future but is generating high and increasing operating losses and cash burn and the IPO appears expensive, so I'll be staying away from it.
Company & Technology
Shenzhen, China-based OneConnect Financial, a Ping An spin-off founded in 2015, has developed a SaaS financial technology