Cleary Gottlieb represented OneConnect Financial Technology (OneConnect) in its initial public offering.
The IPO consisted of an offering of 31.2 million American depositary shares (ADSs), each representing three ordinary shares. The offering priced at $10 per ADS on December 12, 2019, and closed on December 17, 2019. The ADSs are listed on the NYSE under the symbol “OCFT.”
If the overallotment option is exercised in full, the total offering will amount to $358.8 million.
Morgan Stanley, Goldman Sachs, J.P. Morgan, Ping An, BofA Securities, and HSBC acted as joint bookrunners.
OneConnect, an associate of Ping An Group, is a leading technology-as-a-service platform for financial institutions in China.