HONG KONG (AFP): China's second largest e-commerce company JD.com has filed confidentially to list its shares in Hong Kong hoping to raise at least US$2 billion, a report said Wednesday (April 29), following a mega-IPO by rival Alibaba last year.
JD's listing could come as soon as the second half of the year, Bloomberg News said, citing sources with knowledge of the planned deal.
JD.com raised $1.78 billion when it listed on the Nasdaq in New York in 2014 and now has a market capitalisation of $64 billion.Like many e-commerce giants, JD looks set to have weathered the worst of the global pandemic's impact as demand soars for home deliveries to people locked down to prevent its spread.
"Our leading supply chain and logistics network have been called upon to address unmet needs across China," billionaire founder Richard Liu said in a statement attached to its annual results.
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