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MarketScreener Homepage  >  Equities  >  Nasdaq  >  JD.com, Inc.    JD

JD.COM, INC.

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NetEase and JD.com set dates for $5 billion Hong Kong listings

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05/22/2020 | 09:12am EDT
FILE PHOTO: A sign of China's e-commerce company JD.com is seen at its shop at a mall in Shanghai

By Julie Zhu and Kane Wu

Chinese technology company NetEase plans to carry out a secondary listing on the Hong Kong Stock Exchange on June 11, which will be followed one week later by web retailer JD.com, four sources with direct knowledge of the matter said.

The two transactions could raise a combined $5 billion, separate sources said, and the deals would be the largest for Hong Kong's equity capital markets so far this year.

The sources could not be named because the information has not yet been made public.

JD.com is expected to be the largest of the two deals with the likelihood it will sell 5% of its shares that could raise up to $3 billion, one source said, while NetEase is targeting a transaction of up to $2 billion, another source said.

A JD.com spokesman and a NetEase spokesman declined to comment.

The two Nasdaq-listed companies have made confidential filings to the Hong Kong Stock Exchange and preparations for the secondary listings as well underway.

The decision to press ahead with the listings comes after the U.S Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations.

The proposed laws still need to be passed by the U.S House of Representatives and be ratified by President Donald Trump.

(Reporting by Julie Zhu and Kane Wu, writing by Scott Murdoch, additional reporting Yingzhi Yang and Pei Li; editing by David Evans)

Stocks mentioned in the article
ChangeLast1st jan.
JD.COM, INC. -0.37% 56.52 Delayed Quote.60.43%
NASDAQ COMP. -0.69% 9615.813165 Delayed Quote.7.17%
NETEASE, INC., -2.31% 405.01 Delayed Quote.32.08%
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Financials
Sales 2020 711 B 100 B 100 B
Net income 2020 9 198 M 1 297 M 1 297 M
Net cash 2020 66 069 M 9 320 M 9 320 M
P/E ratio 2020 69,4x
Yield 2020 -
Capitalization 588 B 82 698 M 82 914 M
EV / Sales 2019
EV / Sales 2020 0,73x
Nbr of Employees 220 000
Free-Float 77,3%
Chart JD.COM, INC.
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Technical analysis trends JD.COM, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 40
Average target price 419,89 CNY
Last Close Price 401,73 CNY
Spread / Highest target 18,6%
Spread / Average Target 4,52%
Spread / Lowest Target -16,6%
EPS Revisions
Managers
NameTitle
Qiang Dong Liu Chairman & Chief Executive Officer
Nan Li Director-Strategy & Operations
Xuan De Huang Chief Financial Officer
Chi Ping Lau Director
Ming Huang Independent Director
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