JD.com May Seek Secondary Listing in Hong Kong in May or June

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Beijing Gets Green Light to Open VPN Services to Foreign Investors; Xi Calls for Tighter Regulation of $6 Trillion Tech Sector; Xiaomi Aims to Begin Mass Production of Electric Vehicles in 2024

LATEST: Xpeng-Backed Flying Car Startup Gets Bumper Series A Investment; Xiaomi Aims to Begin Mass Production of Electric Vehicles in 2024; Xi Calls for Tighter Regulation of $6 Trillion Tech Sector; Beijing Gets Green Light to Open VPN Services to Foreign Investors; Top Electric Car Battery-Maker CATL Signs Up New U.S. Customer; Tech Insider: Sogou Founder Splits, SAIC Turns Sod on Hydrogen Truck Plant; Chinese Vaccine Startup Seeks Hong Kong Listing as Delta Fuels Demand; ByteDance Pushes Into Property With New Real Estate Broker’s License; Xiaomi Takes Lead in Central and Eastern Europe’s 5G Smartphone Market; TSMC Weighs Response to U.S. Call for Supply Chain Disclosures; Short Video App Kuaishou Restructures in Bid to Stem Losses; Tech Giants Talk Up Their Contributions to China’s ‘Common Prosperity’; Smartphone Brand Honor Restores Its Fortunes Now That It’s Free of Huawei; Smartphone-Maker Xiaomi Bets Bigger on Smart Cars; China’s Tighter Tech Laws Could Stymie U.S. Demands for Data Handover, Legal Expert Says; China Chip Exec Says Crunch Could End by Mid-2022; Air Taxi Developer’s Listing Shows Tencent Can’t Shake Its Flying Car Dreams; Apple Hopes Cheaper IPhones Will Woo Chinese Customers; Two Chinese Tech Stocks Sizzle on Latest Hot Concept in Virtual Reality; China Tech Stocks Stumble in Rush Back Toward Bull Market

By Yuan Ruiyang, Qu Yunxu and Ding Yi / Mar 17, 2020 05:28 PM / Business & Tech

Photo: VCG

Online retailer JD.com is mulling a secondary listing in Hong Kong in May or June, joining the ranks of overseas-listed Chinese companies with plans to dual list in the former British colony, a source with knowledge of the matter told Caixin.

The Beijing-headquartered company has selected Citibank, UBS and CLSA as the lead underwriters for the listing, the source said. UBS was one of the investment banks underwriting JD.com's 2014 IPO in New York.

The offering size would not be determined until mid-April amid uncertainties over the current market volatility, the source added.

According to Hong Kong Stock Exchange rules, JD.com can file a confidential listing application with the bourse.

JD.com declined Caixin’s request for comment.

Earlier this month, JD.com released its fourth-quarter earnings report, which showed that its quarterly revenue rose by 26.6% year-on-year to 170.7 billion yuan ($24.4 billion), beating consensus estimates of 167 billion yuan. The company’s adjusted net income of 811 million yuan also beat analysts’ average estimate of 718 million yuan.

Market observers say that the success of Alibaba’s $12.9 billion secondary listing in Hong Kong last November could spur many other U.S.-traded Chinese firms including Baidu, NetEase and Ctrip to follow suit.

Contact reporter Ding Yi (yiding@caixin.com)

Share this article

Open WeChat and scan the QR code