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DBS: Lufax IPO could boost Ping An fair value up to HK$126 per share

With a Lufax IPO looming, DBS has provided its take on the major Chinese wealth management platform with a blue sky projection for Ping An of HK$126 per share. DBS advises investors to “stay positive” on Ping An ahead of the Lufax IPO. Based on the bank’s current base case scenario, Lufax/Ping An’s fair value is US$55 billion and HK$100…

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