Chinese fintech firm Wangjin Holdings plans $500 mln HK IPO in 2017-IFR

HONG KONG, Feb 3 (Reuters) - Guangdong Wangjin Holdings Technology, which builds and operates online finance platforms for Chinese banks and insurers, plans to raise at least $500 million in an initial public offering in Hong Kong in 2017, IFR reported on Friday, citing people familiar with the plans.

Credit Suisse and Goldman Sachs are leading the IPO plan, added IFR, a Thomson Reuters publication. The deal size hasn’t been fixed and could reach as high as $800 million depending on valuation and the number of shares to be offered at the time of the deal, IFR said.

Credit Suisse declined to comment, while Goldman Sachs and Wangjin didn’t immediately reply to a Reuters request for comment on the plan.

The financial technology company would join other technology startups planning Hong Kong listings this year, including Lufax, China’s biggest peer-to-peer lending and wealth management platform, which plans a $5 billion IPO. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto and Muralikumar Anantharaman)