Shares of SoftBank-backed OneConnect rise 5per cent in US market debut

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Shares of OneConnect Financial Technology jumped 5per cent in their U.S. market debut on Friday, valuing the Chinese cloud tech firm at US$3.79 ...

REUTERS: Shares of OneConnect Financial Technology jumped 5per cent in their U.S. market debut on Friday, valuing the Chinese cloud tech firm at US$3.79 billion.OneConnect, which focuses on small and medium-sized businesses, raised around US$312 million on Thursday, selling 31.2 million American depositary shares .

Analysts said investors would buy SoftBank's inflated private assets in the public market only when they were offered at a lower price.

 

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