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Fintech Giant Lufax Plans Hong Kong Listing to Hedge US Risk

  • Lufax plans to file for H.K. listing in the second half
  • China, US have yet to reach an agreement over audit access
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Fintech firm Lufax Holding Ltd. is planning to go public in Hong Kong, the latest in a wave of New York-traded Chinese companies seeking alternative listings to hedge against the risk of being banned from US markets.

The Ping An Insurance Group Co.-backed company aims to file for a listing in Hong Kong as soon as the second half of this year, according to people familiar with the matter, who asked not to be named because the information is private. The discussions are preliminary and could be subject to change, the people added.