Chinese peer-to-peer lender Lufax will use its newly raised $1.2 billion of additional funding not just to boost its lending capacity but also to connect more online investors with offline services, ahead of a planned initial public offering that could fetch more than $5 billion.
In an exclusive interview with FinanceAsia on Tuesday, Lufax chief executive officer Gregory Gibb said the Shanghai-based company has massive scope to tap into the aspirations and wealth of China's rising middle-class.
With Chinese investors increasingly scanning overseas and domestic markets bedevilled by low-yielding deposits, volatile shares, and risky trust or wealth management...
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