JD Logistics seeks pitches from banks for $3b Hong Kong IPO: sources

Investment banks have already presented to the company’s executives last week as part of the selection process, the sources added. While there are no official mandates yet, the people shared that JD is known to be close to UBS, Bank of America, and Haitong Securities.

JD Logistics has also yet to decide on a target amount for the IPO, the people said, adding however that it could net the company between US$2 billion to US$3 billion.

With the financial debut, JD Logistics would be the latest subsidiary of JD.com set to be listed in Hong Kong.

The parent firm’s healthcare unit is also set to raise about US$3.5 billion in its IPO in the city, pricing the offering at the top end of the indicative range of HK$62.80 to HK$70.58 apiece, sources told Nikkei Asia.

JD Digits, JD.com’s financial services arm previously known as JD Finance, has also filed a prospectus for its planned IPO on the Shanghai Stock Exchange’s Science and Technology Innovation Board.