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