Bold opening: Jingdong Industrials is set to redefine its future with a potential HK$3.3 billion IPO in Hong Kong. But here's where it gets controversial: this milestone caps more than two years of relentless pursuit to bring the unit to the public markets.
JD.com Inc.’s supply-chain technology arm has begun collecting investor interest for a Hong Kong listing that could raise as much as HK$3.3 billion (about $424 million). Jingdong Industrials Inc. is offering 211 million shares priced between HK$12.70 and HK$15.50 each, according to a filing with the Hong Kong Stock Exchange on Wednesday. The Beijing-based company plans to debut its shares on December 11.
This marks a significant step after lengthy preparations and regulatory steps, signaling Jingdong Industrials’ push to broaden its capital base and expand its reach in supply-chain technology. The pricing range implies a substantial value proposition for investors evaluating the growth prospects of JD.com’s industrial technology unit.
