JD.com Passes Hong Kong Stock Exchange IPO Hearing, Hopes to Raise USD$3.75 Billion

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Chinese e-commerce giant JD.com has just passed a hearing by the listing committee of the Hong Kong Stock Exchange (HKEX) for the company’s second IPO.

JD.com’s HKEX listing will be open for subscription from 8 – 11 June and offer 133 million shares, equal to 4.3% of total shares outstanding, with a view to raising around USD$3.75 billion.

95% of these shares will be available to overseas investors, and 5% to investors based in Hong Kong.

Shares are expected to be priced on 11 June for trading in 50 shares per round lot, with JD.com set to be listed on HKEX for trading on 18 June.

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

As of the close of Friday trading the company’s capitalisation stood at USD$86.39 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.

The 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%.

Walmart holds a 9.8% equity stake for 2.5% voting rights.

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