- Briefing Your roundup of Asian tech and startup news that matter
Aditya Hadi Pratama · · 1 min readReport: JD.com’s logistics arm to raise $3.2b in Hong Kong IPO
“JD Logistics indicated that it will price its Hong Kong IPO at HK$40.36 (around US$5.2) per share to raise HK$24.6 billion (around US$3.2 billion),” South China Morning Post reported, citing a source familiar with the matter.
Details:
- The logistics arm of ecommerce firm JD.com plans to issue 609.2 million shares in its IPO scheduled for May 28, and it can sell up to 91.4 million more shares if there is more demand. If it succeeds, the IPO would be the second biggest fundraising so far this year on the Hong Kong stock exchange.
- In its prospectus, JD Logistics said it expects a bigger net loss this year after it recorded a 4 billion yuan (around US$622 million) loss in 2020.
Context:
- JD Logistics will use the funds to expand its warehouse, logistics, and delivery networks and upgrade its data analytics and algorithm.
- In December last year, JD’s healthcare arm JD Health also completed a HK$31 billion (US$3.9 billion) IPO on the Hong Kong stock exchange.
Currency converted from HK dollar and Chinese yuan to US dollar: US$1 = HK$7.76, US$1 = 6.43 yuan.
Editing by Collin Furtado and September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
