Oneconnect Financial Technology Co., Ltd.

Oneconnect Financial Technology Co., Ltd. (OCFT) priced its initial public offering on Dec 13, 2019 at $10.00 per share, raising $312M, and listed on NYSE. At the IPO price its market capitalization was about $10.97B. Morgan Stanley was lead-left underwriter, joined by Goldman Sachs, J.P. Morgan and Ping An of China and others. Cleary Gottlieb, Clifford Chance, Maples and Calder and Haiwen & Partners advised the company and Simpson Thacher and Grandall advised the underwriters.

OneConnect Financial Technology Co., Ltd. is a technology-as-a-service platform for financial institutions in China, offering cloud-native technology applications and technology-enabled business services. Its customers include all of China's major banks, 99% of city commercial banks and 46% of insurance companies.

Status

IPO

Ticker

OCFT

Exchange

NYSE

Priced

Dec 13, 2019

IPO price

$10.00

Raised

$312M

Market cap at IPO price

$10.97B

First filed

Nov 13, 2019

Underwriters

Morgan Stanley, Goldman Sachs, J.P. Morgan, Ping An of China, BofA Securities, HSBC, CLSA and KeyBanc

Company counsel

Cleary Gottlieb, Clifford Chance, Maples and Calder and Haiwen & Partners

Underwriters' counsel

Simpson Thacher and Grandall

Sector

Technology

Country / state

China

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.