JD Logistics, the logistics services unit of ecommerce major JD.com, is planning to raise up to US$1.1 billion.
Photo credit: JD.com
JD Logistics is looking to raise the amount through a US$700 million share placement with its parent firm JD.com, and a US$400 million primary capital raise. The company did not disclose the price range for the sale of the new shares.
JD Logistics’ announced earlier this month that its fourth-quarter revenue had climbed 27.7%, year on year, to US$4.8 billion.
It had last week said it will acquire Deppon Logistics, a China-based courier company, for US$1.4 billion.
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Editing by Collin Furtado and Arpit Nayak
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