JD Health International Inc., the healthcare arm of Chinese e-tailer JD.com Inc. (NasdaqGS:JD), aims to raise up to $4 billion in Hong Kong’s largest initial public offering (IPO) of 2020, three people with direct knowledge of the matter told Reuters. The share sale, which starts on November 25, 2020, will help Hong Kong to its busiest year for IPOs and secondary listings since 2010 when issuers raised $57.39 billion, Refinitiv data showed. Listings in Hong Kong so far this year have been worth $39.1 billion, versus $40.2 billion last year, the data showed. Book building will open to institutional and retail investors on November 25, 2020, the people said, declining to be identified as the information was private. Trading of the shares on the Hong Kong stock market is due to start in the second week of December, said a separate person with direct knowledge of the matter. JD.com did not immediately respond to a request for comment.