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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Ping An Insurance Group Company    601318   CNE000001R84

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Ping An Insurance of China : China's Lufax picks banks for up to $5 billion Hong Kong IPO - IFR

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12/05/2017 | 05:46am EST

Chinese online wealth management firm Lufax has hired five banks to work on an up to $5 billion (£3.8 billion) Hong Kong initial public offering, IFR reported, citing people familiar with the situation.

Lufax, backed by Ping An Insurance, has mandated Citic Securities, Citigroup, JP Morgan, Morgan Stanley and Goldman Sachs as joint sponsors for the float, according to IFR, a Thomson Reuters publication.

Lufax, valued at $18.5 billion in its last fundraising round in January 2016, could be raising $3 billion-$5 billion in the IPO as early as the first half of 2018, IFR reported.

Lufax and Ping An did not immediately respond to requests for comment by Reuters.

When asked by IFR, a spokesperson for Lufax declined to comment on whether the company had mandated banks for an IPO, and said there was “no schedule at this moment”.

(Reporting by Fiona Lau of IFR, Writing by Kane Wu; Additional reporting by Julie Zhu; Editing by Muralikumar Anantharaman)

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Financials ( CNY)
Sales 2017 678 B
EBIT 2017 115 B
Net income 2017 74 869 M
Debt 2017 -
Yield 2017 1,32%
P/E ratio 2017 18,87
P/E ratio 2018 15,40
Capi. / Sales 2017 2,08x
Capi. / Sales 2018 1,74x
Capitalization 1 408 B
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Ping An Insurance Group Co Technical Analysis Chart | 601318 | CNE000001R84 | 4-Traders
Technical analysis trends PING AN INSURANCE GROUP CO
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 79,6  CNY
Spread / Average Target 2,5%
EPS Revisions
Managers
NameTitle
Ming Zhe Ma Chairman & Chief Executive Officer
Li Ji Gu Chairman-Supervisory Board
Sin Ying Tan Chief Operating & Information Officer, Deputy GM
Bo Yao CFO, Executive Director & Deputy General Manager
Jian Yi Sun Vice Chairman & Deputy General Manager
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