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JD Logistics Seeks to Raise Over US$3.4 Billion in Hong Kong IPO

05/16/2021 | 04:49pm EDT

By P.R. Venkat

JD.com is seeking to raise about US$3.4 billion through a Hong Kong listing of its logistics business, the latest effort by China's second-largest e-commerce company to take its various assets public.

JD Logistics plans to sell 609.16 million shares in the initial public offering that would raise up to 26.41 billion Hong Kong dollars ($3.4 billion), it said Monday.

The company has set a maximum offer price of HK$43.36 per share and expects to finalize the IPO price by Friday.

The shares are expected to trade on the exchange from May 28, the company said.

BofA Securities, Goldman Sachs and UBS among the banks that are advising on the IPO.

If successful, it will be the second such listing by the e-commerce giant of its various businesses. Late last year, the company listed its online health-care business, JD Health International Inc., 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, JD Logistics' revenue for January-September of 2020 rose to 49.5 billion yuan ($6.47 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

05-16-21 1849ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.62% 33823.45 Delayed Quote.12.07%
JD HEALTH INTERNATIONAL INC. 0.29% 105.3 End-of-day quote.-29.80%
JD.COM, INC. 2.81% 73.5 Delayed Quote.-18.67%
THE GOLDMAN SACHS GROUP, INC. -2.56% 361.5 Delayed Quote.40.68%
UBS GROUP AG 0.45% 14.635 Delayed Quote.16.84%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.34% 6.4557 Delayed Quote.-0.94%
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Sales 2021 952 B 148 B 148 B
Net income 2021 12 739 M 1 976 M 1 976 M
Net cash 2021 124 B 19 274 M 19 274 M
P/E ratio 2021 64,4x
Yield 2021 -
Capitalization 707 B 111 B 110 B
EV / Sales 2021 0,61x
EV / Sales 2022 0,48x
Nbr of Employees 310 000
Free-Float 58,7%
Chart JD.COM, INC.
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JD.com, Inc. Technical Analysis Chart | MarketScreener
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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 661,61 CNY
Last Close Price 457,31 CNY
Spread / Highest target 77,3%
Spread / Average Target 44,7%
Spread / Lowest Target 12,6%
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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