China’s logistic unit knocking lenders for a potential $8 to $10 billion IPO

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China’s logistic unit knocking lenders for a potential $8 to $10 billion IPO

Logistic unit of the Chinese e-commerce company,, 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 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 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 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.