JD Finance Aims to Raise $2 Billion
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.
- 1Renowned Stanford Physicist Shoucheng Zhang Dies at 55
- 2Why Former Australian Leader Believes China is About to Outflank Trump on Trade
- 3China: Meng Wanzhou is a Chinese Citizen
- 4Update: Huawei CFO Arrested for Allegedly Violating U.S. Sanctions on Iran
- 5Arrested Huawei Executive Reportedly Linked to Firm That Once Tried to Sell U.S. Goods to Iran
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas