OneConnect Announces Closing of Public Offering of American Depositary Shares & Full Exercise of the Underwriters’ Over-All...
August 17 2020 - 4:30PM
Business Wire
OneConnect Financial Technology Co., Ltd. (“OneConnect” or the
“Company”) (NYSE: OCFT), a leading technology-as-a-service platform
for financial institutions in China, today announced the closing of
its underwritten public offering of 20,700,000 American depositary
shares (“ADSs”), each representing three ordinary shares of the
Company (the “Offering”), at a price of US$18.00 per ADS. The
number of ADSs issued at closing included the exercise in full of
the underwriters’ option to purchase 2,700,000 additional ADSs to
cover over-allotment option.
Total proceeds to the Company from ADSs sold in the Offering,
including the 18,000,000 ADSs sold in the firm offering and the
2,700,000 ADSs sold pursuant to the over-allotment option, were
approximately US$356.4 million, after deducting underwriting
discounts and commissions and estimated offering expenses payable
by the Company.
Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC and
China PA Securities (Hong Kong) Company Limited acted as joint
bookrunners for the Offering.
The Company’s registration statement on Form F-1 related to the
securities being sold in this offering was declared effective by
the Securities and Exchange Commission on August 12, 2020. The
registration statement on Form F-1 is available at the SEC’s
website at: http://www.sec.gov. The offering was made only by means
of a prospectus. A copy of the prospectus relating to this Offering
may be obtained by contacting: Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, via telephone: +1-866-471-2526, or via facsimile:
+1-212-902-9316, or via email: prospectus-ny@ny.email.gs.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, New York, NY 10014, via telephone: 1-917-606-8487,
or via email: prospectus@morganstanley.com; and China PA Securities
(Hong Kong) Company Limited, Attention: ECM Department, Unit 3601,
36/F, The Center, 99 Queen’s Road Central, Hong Kong, via
telephone: 00852-3762-9778, or via email:
gcm.pacshk@pingan.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy ADSs or any other securities, nor
shall there be any sale of ADSs in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About OneConnect
OneConnect is a leading technology-as-a-service platform for
financial institutions in China. The Company’s platform provides
cloud-native technology solutions that integrate extensive
financial services industry expertise with market-leading
technology. The Company’s solutions provide technology applications
and technology-enabled business services to financial institutions.
Together they enable the Company’s customers’ digital
transformations, which help them increase revenue, manage risks,
improve efficiency, enhance service quality and reduce costs.
Our technology-as-a-service platform strategically covers
multiple verticals in the financial services industry, including
banking, insurance and asset management, across the full scope of
their businesses — from sales and marketing and risk management to
customer services, as well as technology infrastructure such as
data management, program development, and cloud services.
For more information, please visit ir.ocft.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements constitute “forward-looking” statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. 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,” “confident”
and similar statements. Such statements are based upon management’s
current expectations and current market and operating conditions
and relate to events that 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. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company’s limited operating history in the technology-as-a-service
for financial institutions industry; its ability to achieve or
sustain profitability; the tightening of laws, regulations or
standards in the financial services industry; the Company’s ability
to comply with the evolving regulatory requirements in the PRC and
other jurisdictions where it operates; its ability to maintain and
enlarge the customer base or strengthen customer engagement; its
ability to maintain its relationship with Ping An Group, which is
its strategic partner, most important customer and largest
supplier; its ability to compete effectively to serve China’s
financial institutions; the effectiveness of its technologies, its
ability to maintain and improve technology infrastructure and
security measures; its ability to protect its intellectual property
and proprietary rights; risks of defaults by borrowers under the
loans for which the Company provided credit enhancement under its
legacy credit management business; its ability to maintain or
expand relationship with its business partners and the failure of
its partners to perform in accordance with expectations; its
ability to protect or promote its brand and reputation; its ability
to timely implement and deploy its solutions; its ability to obtain
additional capital when desired; disruptions in the financial
markets and business and economic conditions; the Company’s ability
to pursue and achieve optimal results from acquisition or expansion
opportunities; the duration of the COVID-19 outbreak and its
potential impact on the Company’s business and financial
performance; the status of Sino-U.S. relations and related
regulatory and legislative developments; and assumptions underlying
or related to any of the foregoing. Further information regarding
these and other risks is included in the Company’s filings with the
SEC. All information provided in this press release and in the
attachments is as of the date of this press release, and the
Company undertakes no obligation to update any forward-looking
statement, except as required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200817005328/en/
Investor Relations: Patricia Cheng patricia.cheng@ocft.com
Media Relations: Ying Zhou zhouying150@ocft.com
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