E-commerce giant JD is setting its sights on raising $4.05bn in a secondary share listing in Hong Kong.
Priced at $30.45 each, the new 133 million shares will most likely make the listing among the largest in the territory this year. US regulations for Chinese firms listed in the US may tighten, with one bill in the US Congress proposing delisting Chinese firms that do not submit to substantial auditing requirements. JD is listed in the US on the Nasdaq.
The company will start taking investor orders around this Thursday, with the listing set for 18 June to coincide with its annual shopping festival. Joint sponsors of JD’s Hong Kong listing include Bank of America, UBS Group and CLSA.
