JD Logistics (unit of Chinese e-commerce giant JD.com) preparing for initial public offering (IPO) on Hong Kong stock exchange. JD Logistics set to raise $3.2B during IPO. This IPO will be the second biggest listing on Hong Kong stock exchange this year so far. The biggest listing in 2021 was Kuaishou Technology’s $5.4 billion float in February.
JD Logistics had set a price range of HK$39.36 to HK$43.36 per share. Company sold more than 609 million shares and it’s closely watched be trading community. Company valued $31.6B at the bottom of the price range and $34B at the top of the price range.
China’s logistics companies face strong competition and under strict regulations. So, after Alibaba’s cancelled IPO (that supposed to be the biggest IPO in history) many investors take IPO investment cautiously.
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