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BUSINESS & TECH

JD Finance Aims to Raise $2 Billion

JD Finance’s fundraising plans comes as investors are increasingly eager to get into fintech. Photo: VCG
JD Finance’s fundraising plans comes as investors are increasingly eager to get into fintech. Photo: VCG

The financial affiliate of JD.com Inc., China’s second-largest e-commerce platform, plans to raise about 13 billion yuan ($1.95 billion), which would give it a valuation of $19.8 billion.

Investors in JD Finance will include CICC Capital, a unit of investment bank China International Capital Corp.; brokerage China Securities Co. Ltd.; and private equity company Citic Capital, according to a statement (link in Chinese) from JD.com on Thursday. The deal is expected to be completed by the end of September.

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