Alibaba’s Chinese rival JD raises more than $ 10 billion through IPOs –

Alibaba’s Chinese rival JD raises more than $ 10 billion through IPOs – fr

Workers load packages into delivery carts at a distribution center in Beijing on July 16, 2020.
GREG BAKER | AFP | Getty Images
BEIJING – In less than a year, Chinese e-commerce giant has raised more than $ 10 billion through public offerings in Hong Kong and New York.
The listings were for JD’s subsidiaries and its own secondary stock offering in Hong Kong. Bank of America was the only investment bank to participate in each listing, according to public documents.

Here are the four JD affiliates that have gone public since June 2020:

1. JD Logistics, the company’s delivery unit, went public in Hong Kong on Friday and has raised around $ 3.2 billion. The logistics company’s extensive warehouse network and more than 200,000 delivery people have given parent company an advantage in e-commerce over Alibaba.

Shares closed 3.3% higher on the first day of trading, having jumped more than 18% at one point.

4. Grocery delivery company Dada Nexus – in which strategic investor JD acquired a controlling stake this year – raised $ 320 million in its public offering on Nasdaq on June 5, 2020. The stock rose by around 59% since its IPO.
A gross total of $ 12.02 billion was raised by the four stock offerings.

All four stocks, not including the New York parent company, now have a market cap of around $ 198 billion, according to data from Wind Information. Figures may vary slightly due to factors such as currency exchange rates and the calculation of bank charges.


Please enter your comment!
Please enter your name here