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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 JD.com 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.
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.