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Report: Chinese P2P lending platform taps 4 banks for Hong Kong IPO

Chinese P2P lending platform Lufax is in talks with fourinvestment banks for its planned IPO in Hong Kong, Reuters reported Sept. 23, citing"people familiar with the matter".

The company is said to be in talks with CITIC Securities,Citigroup, JPMorgan and Morgan Stanley. The firm has not yet released a formalmandate, but the four banks are likely to take the lead sponsor roles for theoffering.  

The IPO is expected to raise around US$5 billion, Reuterssaid, citing an earlier IFR report. The timeline and pricing of the deal hasnot been determined.

CITIC CLSA, the Hong Kong unit of CITIC Securities,Citigroup and JPMorgan declined to comment on the report, while Morgan Stanleydid not immediately offer a response, according to Reuters.