JD Logistics, which brings the Chinese business group JD.com, is looking at $ 3.4bn in what could be Hong Kong’s largest donation this year.
The company’s decision to register follows a temporary increase in online purchases during the coronavirus epidemic. But a difficult hard areas for modern Chinese companies and the recent collapse of SF Holding shares, one of JD Logistics’ biggest competitors, pushed the price of companies wanting an IPO to drop by about a quarter, according to a person close to the business.
JD Logistics will sell 609.2m shares for HK $ 39.36-HK $ 43.36 ($ 5.07- $ 5.58) each. The final price will be set on Friday and shares are expected to go on sale on May 28, according to an agreement reached by the Financial Times.
The IPO will be the second largest in the city this year after Kuaishou, China’s Chinese video program, grossed $ 5.4bn in February, and will be third on JD.com’s list in Hong Kong last year. JD Health, which sells medical and medical services online, concluded a $ 4bn IPO in December and JD.com did its thing second lists in the area last June, which earned similar amounts of money.
Hong Kong has benefited from an influx of top Chinese tech companies in recent months and has raised more than $ 20bn of IPOs this year, according to a Bloomberg survey.
JD.com developed its weapons and donor arm in 2007 and launched them into an independent group ten years later. The company sells more than 900 warehouses in China and provides storage and retention services to other people.
But the group is among those under pressure as China re-evaluates its major online groups. Last month, officials told 13 major companies in the country, including the fintech subsidiaries of JD.com, Tencent and ByteDance, that “Solving popular problems” on their platforms. The video was seen as an indication that the group’s management is spreading beyond the Antr Jack Ma Group, a $ 37bn IPO of fintech company was shot down last November.
Individually, shares in SF Holding, China’s largest shipping company, declined sharply last month in terms of losses for a quarter of a quarter that affected investment and oversight of Chinese companies.
Corners retailers at JD Logistics IPO, including SoftBank’s Vision Fund technical team, Temasek Holdings, a Singapore-based company, and finance companies Tiger Global and Blackstone recorded about $ 1.5bn in shares, according to the deal.
Bank of America, Goldman Sachs and Haitong International contributed to the list.
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