Lufax works with financial institutions to provide wealth management products and small business loans. It touts its “ability to use data and artificial intelligence to help effectively match customers to the right financial product,” according to the article. The capital injection is part of an overseas expansion plan expected to play out over the next five years.
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Lufax NYSE IPO Yields $2.36B As It Lays Groundwork for International Expansion
Chinese fintech Lufax raised $2.36 billion with its recent New York Stock Exchange offering, although its shares closed down around 5% on its opening day. So reports CNBC.
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