Skadden, Kirkland Steer Chinese Fintech's $2.4B IPO

Law360 (October 30, 2020, 4:36 PM EDT) -- Shares for Lufax, a technology-powered Chinese personal finance platform, debuted on the stock market Friday as it raised nearly $2.4 billion through an initial public offering steered by Skadden and Kirkland to fund general corporate activity.

Lufax Holding Ltd., advised by Skadden Arps Slate Meagher & Flom LLP, listed its shares on the New York Stock Exchange as other Chinese companies have considered trading on markets closer to home amid rising tensions between the U.S. and China and regulators push to increase oversight of Chinese businesses.

The company told Law360 in a written statement Monday that it was had worked hard...

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