JD Logistics IPO is on
The logistics arm of the e-commerce group JD.com is issuing 609.2 million shares in its current Hong Kong initial public offering (IPO), which set to close on 28 May. The price per share for JD Logistics is at HKD 40.36. At this price and with good prospects on account of the global e-commerce boom the company is expected to raise a total of HKD 24.6 billion (USD 3.2 billion).
The fact that JD complements its e-commerce business with its own logistics organisation is a key element of its identity. This strategy has prompted a number of market experts to compare the Chinese company with Amazon. The No. 2 in the Chinese e-commerce market and Alibaba’s major competitor reported net revenues of RMB 745.8 billion (USD 114.3 billion) for the 2020 full year, which represents a 29.3% increase over 2019. (cd)
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