SHENZHEN, China Dec 13 (Bernama-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 approved for listing on the New York Stock Exchange and are expected to begin trading on December 13 under the symbol “OCFT.” The offering is expected to close on December 17, 2019, subject to satisfaction of customary closing conditions.
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