China’s JD.com logistic unit knocking lenders for a potential $8 to $10 billion IPO
by SOURAV D | VIEW 1087
Logistic unit of the Chinese e-commerce company, JD.com, a smaller rival of Alibaba Holdings Group, had been in early-stage talks with a number of heavyweight lenders aimed at scheduling a potential cross-border Initial Public Offering (IPO) which could raise a total between $8 to $10 billion at this standpoint, at least two people familiar with the subject-matter had revealed on Tuesday, the 23rd of December 2019 on condition of anonymity.
Aside from that, Nasdaq-listed shares of JD.com surged as much as 2.69 per cent to $36.26 per share following reveal of the media headline that the Beijing-based Chinese e-commerce company, primarily engaged in B2C online retailing, had been on the lookout for a potential lender to oversee its overseas IPO.
More importantly, latest JD.com move was brought into light less than a month after the Alibaba Holdings Group had raised nearly $11.7 billion in its secondary listing in Hang Seng, the Hong Kong stock exchange, scoring the largest sum ever raised from a cross-border initial public offering.
Meanwhile, one of the two sources close to a lender JD.com had been in talks over its planned overseas IPO was quoted saying earlier on Monday (December 23rd) on condition of anonymity that the IPO could be floated by mid-2020, while the JD Logistics was seeking a market valuation of at least $30 billion following its IPO overseas.