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JD.com reportedly applies for US$3 billion secondary listing in Hong Kong

29 April 2020 16:04

HONG KONG - Chinese e-commerce platform JD.com is proceeding with its plans for a secondary listing at the Hong Kong Stock Exchange (SEHK) in the next few months despite the coronavirus (COVID-19) pandemic, sources familiar with the matter told Reuters.

The company is said to have confidentially lodged an application to SEHK in a deal that could raise at least US$3 billion—the largest equity capital market transaction in Hong Kong this year.

According to the sources, JD.com has appointed Bank of America, CLSA, and UBS as lead underwriters in the corporate action. A spokeswoman for the Beijing-based e-commerce platform declined to comment on the matter.

JD.com currently has a market capitalisation of US$64 billion, and its stock price closed at US$43.58 per share at the New York Stock Exchange (NYSE) on Tuesday (28/4). (MS)

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