JD Logistics Seeks Up to USD3.4 Billion From Hong Kong IPO
Dou Shicong
DATE:  May 17 2021
/ SOURCE:  Yicai
JD Logistics Seeks Up to USD3.4 Billion From Hong Kong IPO JD Logistics Seeks Up to USD3.4 Billion From Hong Kong IPO

(Yicai Global) May 17 -- JD Logistics, the courier and warehousing arm of Chinese e-commerce giant JD.Com, could raise as much as USD3.4 billion from its initial public offering in Hong Kong this month.

The Beijing-based company, which launched its global public offering today, will sell 609 million shares priced between HKD39.36 and HKD43.36 (USD5.07 and USD5.58) each, it said in a stock exchange filing.

Seven cornerstone inventors have already subscribed to HKD11.9 billion (USD1.5 billion) of stock. They are SoftBank, Temasek, Tiger Global, China Structural Reform Fund, Blackstone, Matthews Funds and Oaktree. At USD600 million, SoftBank has committed the most for a stake of between 1.74 percent and 1.94 percent.

JD Logistics is the second unit parent JD.Com has spun off for public listing in the past six months. JD Health International raised over HKD30 billion in Hong Kong in December after its greenshoe option was exercised. JD.Com now indirectly owns 64.4 percent of JD Logistics through subsidiaries, down from about 71.6 percent before the IPO.

JD Logistics is scheduled to debut on the Hong Kong Stock Exchange on May 28.

Editor: Peter Thomas

Follow Yicai Global on
Keywords:   JD Logistics IPO