Ant Group's Competitor Lufax Just Went Public. Here Are Three Things Investors Should Know

Lufax Holding (NYSE: LU), one of the largest fintechs in China and a competitor to Alibaba's Ant Group, began trading on the New York Stock Exchange on Oct. 30 after raising $2.36 billion in one of 2020's biggest IPOs.

Here are three important things investors should know about the company now.

Lufax sold 175 million American Depositary Shares (ADSs) at $13.50 , the top of the $11.50 to $13.50 range marketed to investors. The IPO -- which gave Lufax an initial valuation of $32.9 billion -- was the biggest listing of a Chinese company on the U.S. markets since 2018. 

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Source Fool.com