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JD Logistics Files Draft Prospectus for Hong Kong IPO

05/02/2021 | 05:42pm EDT

By P.R. Venkat

JD.com, China's second-largest e-commerce company, has filed a draft prospectus with the Hong Kong Stock Exchange to list its logistics business.

The company has appointed BofA Securities, Goldman Sachs and UBS among the banks to advise on the initial public offering of JD Logistics Inc., a draft prospectus filed to the Hong Kong stock exchange showed.

JD Logistics didn't disclose the amount it intends to raise or the timing of the IPO.

If successful, it will the second such listing by the e-commerce giant of its various businesses.

Late last year, the company listed its unit JD Health International Inc., an online health-care business and raised over $3.4 billion.

JD.com's IPO plan is the latest in a string of multi-billion deals that are happening in Hong Kong, many involving Chinese technology startups or other companies catering to China's increasingly affluent consumers.

According to the draft prospectus, the company's revenue for January-September of 2020 rose to 49.5 billion yuan ($7.65 billion) from CNY34.6 billion in the April-December period of 2019.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

05-02-21 1942ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
JD HEALTH INTERNATIONAL INC. -3.87% 106.7 End-of-day quote.-28.87%
JD.COM, INC. 1.67% 68.15 Delayed Quote.-22.47%
THE GOLDMAN SACHS GROUP, INC. 2.78% 368.77 Delayed Quote.39.84%
UBS GROUP AG 0.65% 13.89 Delayed Quote.11.39%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.04% 6.4387 Delayed Quote.-0.80%
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Sales 2021 937 B 146 B 146 B
Net income 2021 14 987 M 2 328 M 2 328 M
Net cash 2021 125 B 19 424 M 19 424 M
P/E ratio 2021 50,2x
Yield 2021 -
Capitalization 677 B 105 B 105 B
EV / Sales 2021 0,59x
EV / Sales 2022 0,46x
Nbr of Employees 314 906
Free-Float 58,7%
Chart JD.COM, INC.
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Technical analysis trends JD.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 40
Average target price 699,06 CNY
Last Close Price 438,66 CNY
Spread / Highest target 115%
Spread / Average Target 59,4%
Spread / Lowest Target 32,3%
EPS Revisions
Managers and Directors
Qiang Dong Liu Chairman & Chief Executive Officer
Ran Xu Chief Financial Officer
Nan Li Director-Strategy & Operations
Chi Ping Lau Independent Director
Ming Huang Independent Director
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