Home / Business / Alibaba Competitor JD Raises Over $10 Billion Through IPOPO Listing

Alibaba Competitor JD Raises Over $10 Billion Through IPOPO Listing



Workers pack packages into a delivery cart at a JD.com distribution center in Beijing on July 16, 2020.

Greg Baker | AFP | Getty Images

Beijing — in less than a year Chinese e-commerce giant JD.com has raised more than $10 billion through initial public offerings in Hong Kong and New York.

The listing involves a JD subsidiary and a secondary IPO of the Hong Kong company. Bank of America is the only investment bank to participate in all lists, according to public filings.

Here are the four JD affiliates that have been made public since June 2020:

1

. JD Logistics, the company’s shipping unit, entered the Hong Kong market on Friday. and raised approximately $3.2 billion. The logistics company’s vast warehouse network and more than 200,000 delivery workers give parent JD.com an e-commerce advantage over Alibaba.

The stock closed up 3.3% on the first day of trading. after surging more than 18% at one point

Read more about China from CNBC Pro.

4. Grocery delivery company Dada Nexus — in which strategic investor JD gained a majority this year — raised $320 million in a public offering on the Nasdaq on June 5, 2020. Its shares have risen about 59% since. IPO

Total $12.02 billion from four IPOs.

Wind Information shows that the four stocks do not include the New York parent company. It has a market capitalization of approximately $198 billion. The numbers may differ slightly due to factors such as foreign exchange rates. and calculating bank fees


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