China's JD Logistics Set to Raise $3.2 Billion in Hong Kong

China's JD Logistics Set to Raise $3.2 Billion in Hong Kong IPO


The company will issue 609.2 million shares. At 40.36 Hong Kong dollars each, the company would raise 24.6 billion Hong Kong dollars ($3.2 billion).
The pricing is subject to confirmation, said the person, who did not wish to be identified as they were not authorized to speak publicly.
JD declined to comment when contacted by CNBC.
However, JD withdrew its planned listing of its financial technology arm, JD Technology, from the Nasdaq-style STAR market in Shanghai last month.
JD has been investing in its logistics as a way to differentiate in China's cut-throat e-commerce market. The company has been focusing on same-day and next-day deliveries and investing in automated logistics warehouses.

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