JD.Com to Raise Up to USD4 Billion in Hong Kong Listing; Shares to Debut on June 18
Liao Shumin
DATE:  Jun 08 2020
/ SOURCE:  Yicai
JD.Com to Raise Up to USD4 Billion in Hong Kong Listing; Shares to Debut on June 18 JD.Com to Raise Up to USD4 Billion in Hong Kong Listing; Shares to Debut on June 18

(Yicai Global) June 8 -- Chinese e-commerce giant JD.Com plans to raise as much as HKD31.4 billion (USD4.05 billion) from its secondary listing in Hong Kong scheduled for June 18.

The Beijing-based company is offering 133 million shares for up to HKD236 (USD30.45) each, according to a prospectus filed today.

China’s second-biggest online retailer isone of the many Chinese businesses traded in the US that Hong Kong Stock Exchange Chief Executive Charles Li expects to list on the bourse this year.NetEase, China’s second-biggest gaming company, is expected raise about USD2.7 billion and start trading in the special administrative region on June 11.

JD said it will invest the proceeds of the share sale in a series of key operational systems, such as those for smart pricing and inventory management, will seek to digitize its logistic capabilities by building a wide range of in-house systems, and continue luring and cultivating world-class software engineers, data scientists and experts in artificial intelligence.

The company had net revenues of CNY362.3 billion, CNY462.0 billion and CNY576.9 billion (USD82.9 billion) in 2017, 2018 and last year. After six years of losses, the firm posted its first net income from continuing operations of CNY11.89 billion (USD1.7 billion) last year, the prospectus shows.

The price of JD.Com's American depository shares [NASDAQ:JD], each of which represents two ordinary shares, rose 4.46 percent to USD59.04 on June 5.

Editor: Ben Armour

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Keywords:   JD.com,Hong Kong Stock Market,Secondary Listing