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Aya Lin · · 1 min readIn brief: JD.com US joint venture in talks to raise $500 million in IPO, sources say
- Chinese ecommerce giant JD.com is in talks with bankers to list shares of Dada-JD Daojia, its online supermarket joint venture with Walmart, in May of next year as it looks to capitalize on the growth of China’s ecommerce sector, The Information reported citing people familiar with the matter.
- Dada-JD Daojia, which is controlled by JD.com and 10% owned by Walmart, seeks to raise about US$500 million in the potential IPO, the two sources said.
- The timing of the IPO, as well as its potential size, could still change, as talks are still in the early stages.
Editing by Jaclyn Teng
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