OCFT News

Five IPOs and three SPACs raised a combined $3.2 billion this past week led by Bill.com (BILL) in the best debut of the quarter with a 61% first day pop. Four companies submitted initial filings. The week’s best performer, Bill.com (BILL) raised the range and priced above it to raise $216 million at a $1.7 billion market cap....read more

OneConnect Financial Technology, a Ping An-backed provider of operations management tools for financial firms, raised $312 million by offering 31.2 million ADSs at $10, the high end of the revised range of $9 to $10. The company issued 5.2 million more ADSs than its previous filing indicated, but the IPO was still well below its original terms of offering 36 million ADSs at a range...read more

OneConnect Financial Technology, a Ping An-backed provider of operations management tools for financial firms, lowered the proposed deal size for its upcoming US IPO on Wednesday. The Shenzhen, China-based company now plans to raise $247 million by offering 26 million ADSs at a price range of $9 to $10 to command a $3.5 billion market cap. The company had previously filed to...read more

The We Company (WE) isn’t SoftBank’s only dud. SoftBank has been a principal shareholder on two US IPOs this year, both of which are now underwater. This week’s IPO of Chinese software platform OneConnect Financial Technology (OCFT) would continue the streak. ...read more