Chinese Fintech, US Social Media Co. Nab $462M Total In IPOs

Law360 (December 13, 2019, 3:13 PM EST) -- Chinese fintech company OneConnect and U.S. social media management business Sprout Social each began trading publicly on Friday after raising $312 million and $150 million, respectively, in initial public offerings that took place Thursday.

The IPO for OneConnect Financial Technology Co. Ltd. saw the Ping An Insurance-backed company offer 31.2 million American depositary shares for $10 apiece, representing the high end of its previously announced range, according to a statement. On Friday, OneConnect started trading on the New York Stock Exchange under the ticker symbol OCFT. The underwriters have an option to buy up to 4.68 million additional American depositary shares,...

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