About Lufax Holding
Lufax Holding (NYSE:LU) operates as an Internet wealth management company. It offers an online lending platform that provides financing and lending services for small and medium enterprises and individuals. It was formerly known as Lufax. The company was founded in 2020 and is based in Kanagawa, Japan.
Expert Collections containing Lufax Holding
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Lufax Holding is included in 4 Expert Collections, including Wealth Tech.
Companies and startups in this collection digitize & streamline the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Excludes US-based companies
Latest Lufax Holding News
Nov 20, 2023
News provided by Share this article Share toX SHANGHAI, Nov. 20, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00001 per share, from the current ADS Ratio of two (2) ADSs to one (1) ordinary share to a new ADS Ratio of one (1) ADS to two (2) ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on or about December 15, 2023 (the "Effective Date"). For Lufax's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-four reverse ADS split. On the Effective Date, holders of ADSs in the Direct Registration System ("DRS") and in the Depository Trust Company ("DTC") will have their ADSs automatically exchanged and need not take any action. The exchange of every four (4) then-held (existing) ADSs for one (1) new ADS will occur automatically, at the Effective Date, with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank. No fractional new ADSs will be issued in connection with the change in the ADS Ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank. The change in the ADS Ratio will have no impact on Lufax's underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the change in the ADS Ratio. Lufax's ADSs will continue to be traded on the New York Stock Exchange under the symbol "LU." As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be equal to or greater than four times the ADS trading price before the change. About Lufax Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners. In doing so, the Company has established relationships with 91 financial institutions in China as funding and credit enhancement partners, many of which have worked with the Company for over three years. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Lufax's beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. These forward-looking statements include, but are not limited to, statements about Lufax's goals and strategies; Lufax's future business development, financial condition and results of operations; expected changes in Lufax's income, expenses or expenditures; expected growth of the retail credit enablement; Lufax's expectations regarding demand for, and market acceptance of, its services; Lufax's expectations regarding its relationship with borrowers, platform investors, funding sources, product providers and other business partners; general economic and business conditions; and government policies and regulations relating to the industry Lufax operates in. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Lufax's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Investor Relations Contact
Lufax Holding Frequently Asked Questions (FAQ)
When was Lufax Holding founded?
Lufax Holding was founded in 2011.
Where is Lufax Holding's headquarters?
Lufax Holding's headquarters is located at No. 1333, Lujiazui Ring Road, Shanghai.
What is Lufax Holding's latest funding round?
Lufax Holding's latest funding round is IPO.
How much did Lufax Holding raise?
Lufax Holding raised a total of $4.321B.
Who are the investors of Lufax Holding?
Investors of Lufax Holding include Morgan Stanley, Goldman Sachs, UBS, J.P. Morgan Chase & Co., Citibank and 26 more.
Who are Lufax Holding's competitors?
Competitors of Lufax Holding include WeLab, CircleUp, JUMO, TrueAccord, Lendio and 7 more.
Compare Lufax Holding to Competitors
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