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Ping An Insurance's Fintech Arm Takes U.S. Over Hong Kong
#1 · November 23, 2019, 5:43 PM
Fintech arm of Chinese insurance giant files for US IPO after blockchain push – SoftBank-backed OneConnect Financial Technology, the fintech arm of Ping An Insurance, filed a prospectus on Wednesday for an IPO with the SEC after a failed Hong Kong listing, notes Fintech Collective. The protests in Hong Kong have affected long-term perception of the city.
According to the 2018 annual report, OneConnect has worked for more than 200 Chinese banks, 200,000 enterprises and 500 government and commercial institutions.