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Fintech company to raise $100m via IPO

OneConnect Financial Technology, a financial services software provider in China, filed on Wednesday with the US Securities and Exchange Commission for an initial public offering (IPO). The proposed IPO will raise up to $100 million, said the company's prospectus. No pricing terms were disclosed. The company plans to list the IPO on the New York Stock Exchange or Nasdaq Global Market. Morgan Stanley, Goldman Sachs (Asia), JPMorgan, Ping An Securities, BofA Securities, HSBC, CLSA Asia-Pacific Markets and KeyBanc Capital Markets are the joint bookrunners on the deal. Founded in 2015, the Shenzhen-based company introduces itself as a technology-as-a-service platform for financial institutions that provides cloud-native technology solutions, including technology applications and tech-enabled business services.