×
28
Fashion Jobs
LEVI'S
Marketing Manager
Permanent · Singapore
GR INTERNATIONAL
e Commerce Executive
Permanent · NEW DELHI
L'OREAL GROUP
na&Sapmena IT Security Grc Manager
Permanent · Singapore
L'OREAL GROUP
Business Development Manager - l'Oreal International Distribution (Lid)
Permanent · Singapore
LEVI'S
Inventory Management Lead, Asia
Permanent · Singapore
LEVI'S
Merchandising Operations Specialist
Permanent · Singapore
LEVI'S
Specialist, Brand Analytics & Tools
Permanent · Singapore
L'OREAL GROUP
Head of Crisis Management Director
Permanent · Singapore
L'OREAL GROUP
Media & Marketing Apprentice (Sapmena)
Permanent · Singapore
L'OREAL GROUP
Market Insight Apprentice (Sapmena)
Permanent · Singapore
L'OREAL GROUP
Digital & E-Commerce Apprentice (Sapmena)
Permanent · Singapore
LEVI'S
Manager, Global Strategic Sourcing
Permanent · Singapore
LEVI'S
Stylist/ Senior Stylist
Permanent · Singapore
LEVI'S
Head of Diversity, Equity & Inclusion (Ama)
Permanent · Singapore
L'OREAL GROUP
Regional Talent Acquisition & Employer Branding Apprentice
Permanent · Singapore
L'OREAL GROUP
2h2021 - Online Brand Management Intern
Internship · Singapore
L'OREAL GROUP
Data &Analytics Technology Manager
Permanent · Singapore
L'OREAL GROUP
Operations Apprentice
Permanent · Singapore
L'OREAL GROUP
Payment Service Provider Manager - South Apac, Middle East & Africa
Permanent · Singapore
LULULEMON
Key Leader | Marina Bay Sands
Permanent · Singapore
LULULEMON
Key Leader | Singapore Takashimaya Ngee Ann City
Permanent · Singapore
LULULEMON
Educator | Singapore Duxton Road
Permanent · Singapore
By
Reuters API
Published
May 17, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

JD Logistics launches Hong Kong IPO to raise up to $3.4 billion

By
Reuters API
Published
May 17, 2021

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.


Reuters


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.

An over-allotment option, or so-called greenshoe, exists to sell a further 91 million shares that would raise up to a further $510 million.

At that size, JD Logistics will be one of the largest listings in Hong Kong this year following the Kuaishou Technology IPO in late January which raised $5.4 billion.

The deal is expected by analysts to be a barometer of investor appetite towards major share sales following volatility in global equities markets over the past week, led by concerns inflation is starting to emerge around the world.

JD Logistics will be valued at $34 billion at the top of the price range and seven high profile cornerstone shareholders led by SoftBank Group Corp's Vision Fund and Temasek have taken shares worth up to $1.53 billion, or 45% of the IPO, according to the filings.

The final price will be set on Friday and the stock will start trading on the Hong Kong Stock Exchange on May 28.

JD.com spun off its logistics unit into a standalone entity in 2017 and then opened up its delivery and warehousing services to third-party companies.

An IPO for the unit has been under consideration for almost a year.

JD.com carried out a Hong Kong secondary listing in June last year which raised $3.87 billion.

© Thomson Reuters 2021 All rights reserved.