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(Reuters) -JD Logistics will price its shares between $HK39.36 and $HK43.36 each as the company aims to raise up to $3.4 billion, according to the company's filings, in one of Hong Kong's largest share sales in 2021. The logistics offshoot of JD.com Inc will sell 609.1 million shares in the deal which is 10% of the company's total shares, the filings said. At that size, JD Logistics will be one of the biggest deals in Hong Kong this year following the Kuaishou Technology IPO in late January which raised $5.4 billion.
JD Logistics sets IPO price, eyes $3.4B valuation
Spinoff bets on automation investment
0 130 1 minute read JD Logistics could be valued at $3.4 billion after its IPO listing. (Photo: Freer/Shutterstock)
On Monday, JD Logistics, the supply chain spinoff of JD.com (NASDAQ:JD), set its Hong Kong IPO price between $HK39.36 and $HK43.36 for a total of 609.1 million shares. This pricing could lead to a $3.4 billion valuation for the company.
JD.com plans to hold 10% of JD Logistics’ shares, according to the new filing.
The listing would also provide an over-allotment option that would provide another 91 million shares, raising an additional $510 million.
The Blackstone Group L P (NYSE:BX), Goldman Sachs Group, Inc (The) (NYSE:GS) - JD Logistics Sets IPO Price, Eyes $3 4B Valuation benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.