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JD.com Logistics Arm Files for Hong Kong IPO
CGTN
DATE:  Feb 17 2021
/ SOURCE:  Yicai
JD.com Logistics Arm Files for Hong Kong IPO JD.com Logistics Arm Files for Hong Kong IPO

(Yicai Global) Feb. 17 -- JD Logistics, the delivery arm of China's second-largest e-commerce company JD.com, filed for an initial public offering (IPO) in Hong Kong yesterday, making this the third branch in the conglomerate to go public.

The move came shortly after JD.com's healthcare unit JD Health completed a USD3.5 billion IPO in December last year.

The logistics company is jointly sponsored by BofA Securities, Goldman Sachs, Haitong Securities, and UBS, according to its application sent to Hong Kong Exchanges and Clearing Limited.

Its revenue reached CNY49.5 billion (USD7.7 billion), a year-on-year increase of 43.2 percent, in the first three quarters of 2020, shown in the application.

Earlier, JD Logistics was reported to target a valuation of USD40 billion, but JD.com said it has not yet specified the details, including the size and structure of its IPO.

The Beijing-based giant will continue to indirectly hold more than 50 percent of JD Logistics' shares, per JD.com.

JD.com's US stock climbed 3.8 percent in the pre-market until 9:55 a.m. ET.

JD.com registered its secondary listing in Hong Kong in June last year, becoming the third US-listed Chinese firm to make a "homecoming" secondary listing in the global financial hub.

 

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Keywords:   JD.com,IPO,Hong Kong