OneConnect Financial Technology, a Ping An-backed provider of operations management tools for financial firms, raised $312 million by offering 31.2 million ADSs at $10, the high end of the revised range of $9 to $10. The company issued 5.2 million more ADSs than its previous filing indicated, but the IPO was still well below its original terms of offering 36 million ADSs at a range of $12 to $14. At IPO, the company commands a fully diluted market value of $3.7 billion.
OneConnect Financial Technology plans to list on the NYSE under the symbol OCFT. Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan, PingAn Securities, BofA Securities, and HSBC acted as lead managers on the deal.
