Lufax stock indicated to open above IPO price, as China-based lender raised $2.4 billion

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Lufax Holding Ltd. said Friday it initial public offering priced at $13.50, as the China-based online lender small businesses and salaried workers raised $2.36 billion. The pricing was that the top of the expected range of between $11.50 to $13.50. The is currently indicated to open on the NYSE at around $13.50 to $14.50. Goldman Sachs, BofA Securities, UBS Securities, HSBC Securities and China PA Securities are the joint bookrunners of the IPO. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 17.8% over the past three months, while the iShares MSCI China ETF has gained 8.4% and the S&P 500 has edged up 0.2%.
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