Ping An Insurance’s OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said.
Ping An Insurance Group Co of China Ltd , China’s biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to $1 billion.
