<p>OneConnect, the blockchain and fintech arm of China’s biggest insurer by market value Ping An, could launch an initial public offering (IPO) in New York in mid-November this year.</p> <p>Reuters <a href="https://in.reuters.com/article/us-ping-an-ins-oneconnect-ipo/ping-ans-oneconnect-plans-new-york-listing-in-mid-november-source-idINKBN1W50I7">reported</a> the news on Friday, citing a person with “direct knowledge of the matter." OneConnect was earlier looking to launch the IPO as early as this month.</p> <p>In June, there were <a href="https://in.reuters.com/article/oneconnect-ipo/ping-ans-oneconnect-leaning-towards-new-york-over-hong-kong-for-ipo-sources-idINKCN1TI08J">reports</a> that Ping An has changed its IPO location to New York from Hong Kong in the hope of achieving a higher valuation. At the time, OneConnect was looking to raise $1 billion via the IPO at a valuation of about $8 billion.</p> <p>OneConnect sells technology services, including blockchain infrastructure. For instance, it <a href="https://www.prnewswire.com/news-releases/ping-an-delivers-hong-kongs-first-blockchain-powered-trade-finance-platform-300741251.html">helped</a> the Hong Kong Monetary Authority (HKMA), the region's de facto central bank, build a blockchain trade finance platform called eTradeConnect.</p> <p>Earlier this year, OneConnect also <a href="https://www.pingan.cn/en/common/news/article/1558602049000.shtml">received</a> a virtual banking license by the HKMA to operate in Hong Kong.</p>