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SoftBank-backed OneConnect sees valuation tumble in US IPO

China Ping An Insurance's fintech arm raises $312m; value falls to $3.7bn

Ping An subsidiary OneConnect changed its listing venue to New York from Hong Kong in the hope of achieving a higher valuation.   © Reuters

NEW YORK/SYDNEY (Reuters) -- Ping An Insurance Co's OneConnect Financial Technology said on Thursday it raised around $312 million in its U.S. initial public offering, valuing the company at around $3.7 billion.

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