JD.com raises $5.4b in HK share sale: Sources
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HONG KONG • China's No. 2 online retailer JD.com raised HK$30.1 billion (S$5.4 billion) in its Hong Kong share sale, sources familiar with the matter said, cementing the world's second-biggest listing this year.
The company priced 133 million new shares at HK$226 each, according to the sources, who asked not to be identified as the information is not public.
The price represents a 3.9 per cent discount to the Nasdaq-listed JD's closing price of US$60.70 per share on Wednesday.
JD trades in the United States via American depository receipts, one of which represents two ordinary shares. Its shares are slated to begin trading in Hong Kong next Thursday, which coincides with its largest annual online sales event.
A representative for the company declined to comment.
At US$3.9 billion (S$5.4 billion), JD's Hong Kong share sale is this year's second-largest globally, after Beijing-Shanghai High Speed Railway raised US$4.3 billion in January, according to data compiled by Bloomberg.
First-time share sales slowed worldwide earlier this year as the coronavirus caused markets to slump and issuers put their listing plans on hold. But activity has been roaring back recently, and last week was the busiest for IPOs this year.
NetEase, China's biggest gaming company after Tencent Holdings, delivered a solid debut in Hong Kong yesterday, soaring as much as 9.9 per cent.
BLOOMBERG