Ping An-backed fintech lender Lufax follows in footsteps of Nio and Tencent Music, applies for Hong Kong dual listing through introduction
- Dual primary listings in Hong Kong and NYSE will broaden its investor base and enhance its share liquidity, firm says
- Lufax shares in the US jumped 7.9 per cent overnight following the announcement

Ping-An (Insurance) Group-backed Chinese online lender Lufax Holdings has applied to list in Hong Kong, joining other US-listed Chinese companies seeking a float closer to home despite the lower risk of delisting following progress on an auditing impasse between China and the United States.
“It is desirable and beneficial for the company to have dual primary listing status in both Hong Kong and the NYSE, so that the company can have ready access to these different equity markets when opportunity arises,” Lufax said in the filing. The listing will broaden its investor base and enhance its share liquidity, which is also in line with Lufax’s focus on operations in China for long-term growth and strategic development, it added.
Lufax focuses on small businesses in China and is the second-largest non-traditional financial services provider in the sector in terms of outstanding small business loans, according to the company. Ping An holds an about 41 per cent stake in Lufax through its subsidiaries An Ke Technology and Ping An Overseas Holdings.