OneConnect Financial Technology Co. (OCFT) Prices 31.2M ADS IPO at $10/ADS

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Go back to OneConnect Financial Technology Co. (OCFT) Prices 31.2M ADS IPO at $10/ADS

OneConnect Announces Pricing of Initial Public Offering

December 12, 2019 8:43 PM EST

SHENZHEN, China--(BUSINESS WIRE)-- OneConnect Financial Technology Co., Ltd. (OneConnect), a leading technology-as-a-service platform for financial institutions in China, today announced the pricing of its initial public offering of 31,200,000 American Depositary Shares (ADSs), each representing three ordinary shares, at a price to the public of US$10.00 per ADS. OneConnect has granted the underwriters an option to purchase up to an additional 4,680,000 ADSs to cover over-allotments. The total gross proceeds of the offering are expected to be approximately US$358.8 million if the underwriters choose to exercise their over-allotment option in full.

The ADSs have been... More