JD.com Set to List in Hong Kong on 18 June, Retail Shares Oversubscribed 179 Fold

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Chinese e-commerce giant is scheduled to launch its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) on Thursday 18 June 2020.

JD.com announced via HKEX that it will issue 133 million shares with an issue price of 226.00 Hong Kong dollars, to obtain a net sum of 29.771 billion Hong Kong dollars (approx. USD$3.84 billion) in total.

According to JD.com shares available for retail investors are already oversubscribed 178.9 fold.

JD.com pre­vi­ously listed on Nas­daq in New York in 2014, rais­ing USD$1.78 bil­lion.

JD.com is Chi­na’s sec­ond largest e-com­merce plat­form, and hopes that a sec­ondary list­ing will help it com­pete against ri­vals in the sec­tor such as Ama­zon and Al­ibaba. 

Its HKEX hear­ing re­vealed that Richard Liu Qiang­dong holds 15.1% of eq­uity in JD.com for vot­ing rights of 78.4%, while Ten­cent is the largest share­holder with 17.8% of eq­uity and vot­ing rights of 4.6%.

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