Lufax’s Dual Primary Listing by Introduction in Hong Kong

April 14, 2023

Cleary Gottlieb represented J.P. Morgan Securities (Far East) Limited, Morgan Stanley Asia Limited, and UBS Securities Hong Kong Limited, the joint sponsors, in Lufax Holding Ltd’s (Lufax) dual primary listing by introduction on the Main Board of the Hong Kong Stock Exchange.

The listing does not involve any offering of shares by Lufax. To facilitate post-listing liquidity, J.P. Morgan Broking (Hong Kong) and Morgan Stanley Hong Kong Securities, the dealers, would carry out certain liquidity trades after the listing. Cleary also represented the dealers in the liquidity trades.

Lufax’s shares began trading on the Hong Kong Stock Exchange on April 14, 2023. Lufax’s ADSs will continue to be primarily listed on the NYSE under the symbol “LU.”

Lufax is a leading financial services enabler for small business owners in China. The company offers tailor-made financing products to small business owners and other high-quality borrowers to address their large unmet needs. In doing so, the company has established relationships with over 550 financial institutions in China, many of which have worked with the company for over three years. These financial institutions provide funding and credit enhancement for the loans the company enables as well as other products to enrich the small business owner ecosystem that the company is creating.