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Report: Ping An Insurance considering to take over Lufax if IPO plan fails

Ping An Insurance (Group) Co. of China Ltd. could absorb Lufax Holding if the financial technology arm fails to go public, Caixin reported Aug. 24, citing sources with the knowledge of the matter.

This plan intends to offer an exit opportunity for Lufax investors such as UBS Group AG and Qatar's sovereign wealth fund.