Jingdong Mall (JD.com) Files For $1.5 Billion IPO


Fresh and interesting news from Reuters concerning Jingdong Mall (JD.com), the Chinese electronic commerce company founded in 1998, which filed for a $1.50 billion IPO. Investors are still waiting for Alibaba's IPO filing.
"JD.com, China's second-largest e-commerce company behind Alibaba Group Holding Ltd, said on Thursday it plans to raise up to $1.5 billion in an initial public offering in the United States.

JD.com, which said in December it expected to top 100 billion yuan ($16.51 billion) in annual sales for the first time, is riding on China's booming e-commerce industry as internet penetration surges in the world's most populous nation.
Business-to-consumer online sales in China are expected to surpass $180 billion this year, according to market research firm eMarketer.

JD.com has managed in the past six years to secure $2.23 billion from foreign investors, including the Ontario Teachers' Pension Plan and Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Co. 
Alibaba, which controls nearly 80 percent of China's internet shopping market, has been planning to list its shares but has struggled to reach an agreement with Hong Kong regulators over its proposed IPO, expected to be worth around $15 billion.
JD.Com's filing with the U.S. Securities and Exchange Commission did not reveal how many American Depositary Shares the company planned to sell, their expected price or the exchange on which it would list them.

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different.

JD.com listed BofA Merrill Lynch and UBS Securities LLC as lead underwriters to the offering. (r.reuters.com/myc56v)".


Follow me on Twitter @tdubuisson or check my professional profile on LinkedIn: http://www.linkedin.com/in/thomasdubuisson

Popular posts from this blog

Is the iPhone Generation Over?

Lucasfilm vs The Lightsaber Academy: Who is The Real Jedi?

Les FAI peuvent bloquer l'accès au site "The Pirate Bay", selon l'Avocat Général SZPUNAR