P2P lender Lufax taps four banks for Hong Kong IPO

Lufax, China's biggest peer-to-peer lending platform backed by Ping An Insurance, is in talks with four investment banks about taking leading roles in its planned Hong Kong IPO, people familiar with the matter told Reuters.

The initial public offering could raise $5 billion, Thomson Reuters publication IFR reported previously.

CITIC Securities, Citigroup, JPMorgan and Morgan Stanley have started preparatory work, although no formal mandate has been awarded, the people said.