SoftBank-backed OneConnect sees valuation tumble in U.S. IPO
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NEW YORK/SYDNEY (Reuters) - Ping An Insurance Co's OneConnect Financial Technology said on Thursday it raised around $312 million in its U.S. initial public offering, valuing the company at around $3.7 billion (2.9 billion pounds).OneConnect sold 31.2 million American depositary shares (ADS) at $10 each. Earlier this month, it had aimed to sell 36 million ADS at a price range of $12 to $14 per share, but on Wednesday it lowered the range to $9 to $10 and set a goal of selling 26 million ADS...