Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. Haitong Securities Co., Ltd.
  6. News
  7. Summary
    600837   CNE000000CK1

HAITONG SECURITIES CO., LTD.

(600837)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Haitong Securities : JD Logistics seeks bank pitches for Hong Kong IPO of up to $3 bln, sources say

12/03/2020 | 04:14am EDT
HKEX sign is seen at the 2020 China International Fair for Trade in Services in Beijing

HONG KONG (Reuters) - JD Logistics has asked banks to pitch for the lead role in its Hong Kong initial public offering (IPO) of up to $3 billion as it moves towards launching the deal in the first half of 2021, according to two sources with direct knowledge of the matter.

The logistics business, the offshoot of Chinese e-commerce giant JD.com Inc, would be the latest subsidiary of the parent company to be spun off and listed in Hong Kong.

The IPO could raise between $2 billion and $3 billion, said the sources, adding the company was yet to set a firm target.

Investment banks made presentations to JD Logistics executives on Nov. 27 as part of the selection process, the sources said.

The people could not be named as the information has not yet been made public.

JD Logistics did not immediately respond to a request for comment

JD.com spun off its logistics unit into a standalone entity in 2017 and then opened up its delivery and warehousing services to third-party companies. An IPO for the unit has been under consideration for almost a year.

Official mandates have yet to be given to the banks but JD is known to be close to UBS, Bank of America and Haitong Securities, the people said.

UBS and Bank of America declined comment. Haitong did not immediately respond to a request for comment.

Those three banks sponsored the JD Health IPO which raised nearly $3.5 billion in Hong Kong this week. UBS and BofA also sponsored JD.com's $4.4-billion secondary listing in June, the largest listing in Hong Kong in 2020.

A timetable for the JD Logistics IPO has not yet been set, but the two sources suggested a deal was expected in the first half of 2020.

The JD Logistics IPO was discussed during JD Health listing presentations last week with the parent's management, which indicated a deal could come earlier in the new year, a separate investor source said.

The source was not authorised to speak to media so could not be named.

(Reporting by Julie Zhu and Scott Murdoch in Hong Kong; Additional reporting Sophie Yu; Editing by Stephen Coates)

By Julie Zhu and Scott Murdoch


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 1.73% 39.995 Delayed Quote.29.10%
HAITONG SECURITIES CO., LTD. 1.40% 12.29 End-of-day quote.-4.43%
All news about HAITONG SECURITIES CO., LTD.
09/09HAITONG SECURITIES : Facing Case From China's Securities Watchdog Over Alleged Breach of S..
MT
09/02Haitong Securities Co., Ltd. Announces Resignation of Qu Qiuping as Executive Director,..
CI
08/20HAITONG SECURITIES : •  Haitong's information disclosure in 2020-2021 was evaluated b..
PU
08/18HAITONG SECURITIES : •  Haitong signed a strategic cooperation agreement with Shangha..
PU
08/11Chinese Shares End Muted; Three Newcomers Shine in Shanghai, Shenzhen Debuts
MT
08/10MARKET CHATTER : Chinese Renminbi's Rise Forecast to Slow in H2 Amid Predictions of Softer..
MT
08/04MARKET CHATTER : CICC Boosts Overseas Staff to Bolster Foreign Link to Chinese Bond Market
MT
07/26HAITONG SECURITIES : •  Haitong Securities successfully created the first credit prot..
PU
07/26HAITONG SECURITIES : •  Haitong Securities and Haitong Asset Management won three awa..
PU
07/19HAITONG SECURITIES : Reports First Half EPS Up 29.2% on Year
MT
More news
Analyst Recommendations on HAITONG SECURITIES CO., LTD.
More recommendations
Financials
Sales 2021 46 174 M 7 140 M 7 140 M
Net income 2021 13 672 M 2 114 M 2 114 M
Net Debt 2021 82 131 M 12 701 M 12 701 M
P/E ratio 2021 11,5x
Yield 2021 2,74%
Capitalization 137 B 21 244 M 21 243 M
EV / Sales 2021 4,75x
EV / Sales 2022 4,78x
Nbr of Employees -
Free-Float 70,5%
Chart HAITONG SECURITIES CO., LTD.
Duration : Period :
Haitong Securities Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HAITONG SECURITIES CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Last Close Price 12,29 CNY
Average target price 13,09 CNY
Spread / Average Target 6,47%
EPS Revisions
Managers and Directors
Xin Jun Zhang Chief Financial Officer
Jie Zhou Chairman
Yu Xing Mao Chief Information Officer & Deputy GM
Jian Ye Wang Chief Compliance Officer
Xiang Yang Wu Member-Supervisory Board & Deputy GM-Compliance
Sector and Competitors