​Chinese peer-to-peer lender Lufax, which was valued at nearly $10 billion by investors earlier in 2015, is gearing up for an initial public offering that will give investors an opportunity to buy into one of the world’s fastest-growing financial firms, according to people familiar with the matter.

Shanghai-based Lufax, short for Shanghai Lujiazui International Financial Asset Exchange, has tapped Morgan Stanley and Goldman Sachs to lead the preparations for the initial public offering, which could take place in the second or third quarter of 2016, raising up to $5 billion, the people said.