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Shares of SoftBank-backed OneConnect rise 5% 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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Shares of SoftBank-backed OneConnect rise 5per cent in US market debutShares 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 ...
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