JD plans US$4.05 billion Hong Kong exchange listing
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Chinese e-commerce giant JD is looking to raise up to US$4.05 billion in a secondary share listing in Hong Kong.
The new 133 million shares, priced at $30.45 each, most likely will make the listing among the largest in the territory this year.
US regulations for Chinese firms listed in the US may tighten, with one bill in the US Congress proposing delisting Chinese firms that do not submit to substantial auditing requirements. JD is listed in the US on the Nasdaq.
The company will start taking investor orders around this Thursday, with the listing set for June 18 to coincide with its annual shopping festival.
Joint sponsors of JD’s Hong Kong listing include Bank of America, UBS Group and CLSA.
Questions & Answers
Q.How much money does JD aim to raise from this listing?
How much money does JD aim to raise from this listing?
JD is looking to raise up to US$4.05 billion in its secondary share listing on the Hong Kong exchange. This would likely make it one of the largest listings in the territory this year.
Q.Why might JD be pursuing a secondary listing in Hong Kong?
Why might JD be pursuing a secondary listing in Hong Kong?
US regulations for Chinese firms listed in the US may tighten. A bill in US Congress proposes delisting Chinese firms that do not comply with substantial auditing requirements, which could affect JD.
Q.When is the Hong Kong listing scheduled to take place?
When is the Hong Kong listing scheduled to take place?
The listing is set for June 18, which is planned to coincide with JD's annual shopping festival. Investor orders are expected to start around this Thursday.
Q.Which banks are sponsoring JD's Hong Kong listing?
Which banks are sponsoring JD's Hong Kong listing?
Bank of America, UBS Group, and CLSA are named as the joint sponsors for JD’s secondary share listing in Hong Kong. They are managing the process for the e-commerce giant.