How are Lufax's ordinary shares and American depositary shares related?

Lufax's ordinary shares listed on HKEX are fully fungible with its American depositary shares on the NYSE.

Lufax Holding Ltd Successfully Listed on the Main Board of The Stock Exchange of Hong Kong

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Rhea-AI Summary

Lufax Holding Ltd (NYSE: LU), a leading financial services provider for small businesses in China, has successfully listed its ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX) as of April 14, 2023. The shares, traded under the stock code '6623,' are fully fungible with the American depositary shares (ADSs) listed on the NYSE. This move potentially enhances Lufax's visibility in the Asian market and broadens its investor base. The company has established strong relationships with over 550 financial institutions, facilitating tailor-made financing solutions for small business owners.

Positive

Successful listing of shares on HKEX enhances visibility in the Asian market.
The shares are fully fungible with ADSs on the NYSE, increasing liquidity.
Strong relationships with over 550 financial institutions support business growth.

Negative

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04/14/2023 - 12:15 AM EDT

SHANGHAI, April 14, 2023 /PRNewswire/ -- Lufax Holding Ltd ("Lufax" or the "Company") (NYSE: LU), a leading financial services enabler for small business owners in China, today announced that it has successfully listed, by way of introduction, its ordinary shares (the "Shares") on the Main Board of The Stock Exchange of Hong Kong Limited (the "HKEX"). The Shares are traded on the Main Board of the HKEX under the stock code "6623" in board lots of 100 Shares, and the stock short name is "LUFAX". The Company's American depositary shares (the "ADSs"), every two representing one Share, will continue to be primarily listed and traded on the New York Stock Exchange (the "NYSE"). The Shares listed on the Main Board of the HKEX are fully fungible with the ADSs listed on the NYSE.

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers tailor-made financing products to small business owners and other high-quality borrowers to address their large unmet needs. In doing so, the Company has established relationships with over 550 financial institutions in China, many of which have worked with the Company for over three years. These financial institutions provide funding and credit enhancement for the loans the Company enables as well as other products to enrich the small business owner ecosystem that the Company is creating.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Lufax's beliefs and expectations, are forward-looking statements. Lufax has based these forward-looking statements largely on its current expectations and projections about future events and financial trends, which involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks and uncertainties. All information provided in this press release is as of the date of this press release, and Lufax does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Lufax Holding Ltd
Email: Investor_Relations@lu.com

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

View original content:https://www.prnewswire.com/news-releases/lufax-holding-ltd-successfully-listed-on-the-main-board-of-the-stock-exchange-of-hong-kong-301797418.html

SOURCE Lufax Holding Ltd

FAQ

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What recent event occurred for Lufax Holding Ltd (LU) on April 14, 2023?

Lufax Holding Ltd successfully listed its ordinary shares on the Main Board of HKEX.

What is the stock code for Lufax on the HKEX?

The stock code for Lufax on the HKEX is '6623.'

Why is Lufax's listing on the HKEX significant?

The listing enhances Lufax's visibility in Asia and broadens its investor base.

Lufax Holding Ltd Successfully Listed on the Main Board of The Stock Exchange of Hong Kong