Ping An's OneConnect picks banks for up to $1 bln Hong Kong IPO - sources [Reuters (UK)]
PING AN INS CO OF CHINA (PNGAY)
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Source: Reuters
Ping An's OneConnect picks banks for up to $1 bln Hong Kong IPO - sources - Reuters 3 Min Read * Goldman Sachs, JPMorgan and Morgan Stanley chosen-sources * OneConnect aims to raise up to $1 billion-sources * Could file as early as June and list in September-sources HONG KONG, May 17 (Reuters) - Ping An Insurance’s OneConnect financial technology unit has selected Goldman Sachs, JPMorgan and Morgan Stanley to work on its Hong Kong initial public offering (IPO) of up to $1 billion, people with direct knowledge of the matter said. Ping An Insurance Group Co of China Ltd , China’s biggest insurer by market value, is keen to list its finance unit OneConnect as early as September, the people said, speaking on condition of anonymity. OneConnect, which provides technology solutions to small and medium-sized financial institutions, could file with the Hong Kong stock exchange as soon as June, three of the people said. The sources declined to be identified as they were not authorised to speak
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