The China-based firm is set to list on June 18, and is looking to raise between US$3.8 billion and US$4.3 billion. (Financial Times)
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The China-based firm is set to list on June 18, and is looking to raise between US$3.8 billion and US$4.3 billion. (Financial Times)
Talking point: JD.com is one of a number of Chinese firms looking to markets closer to home amid tensions between Beijing and Washington. Gaming company NetEase is currently selling US$2.7 billion in shares in its own Hong Kong secondary offering. Alibaba raised US$13 billion in a Hong Kong offering last year. Some large tech firms initially listed in the U.S. because Hong Kong didn’t allow dual-class share voting, but that requirement has since been eased. The return to Hong Kong doesn’t mean U.S. exchanges aren’t seeing plenty of their own IPO action. Legend Biotech, the subsidiary of a Hong Kong-listed firm, and Dada Nexus, a Chinese e-commerce firm, priced their shares Thursday, in the U.S., raising a combined US$759 million.
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