JD.com pushes on for $3 billion HK secondary listing

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Chinese e-commerce retailer JD.com is proceeding with a secondary listing in Hong Kong within the next few months despite the coronavirus-induce turmoil in the financial markets.

The Nasdaq-listed company has confidentially made an application to the Hong Kong Stock Exchange to list as soon as June, say un-named sources according to a Reuters report. The second listing could raise at least USD 3.0 billion, which would be the largest equity capital market transaction in Hong Kong this year,

The company has appointed Bank of America, CLSA and UBS to lead the deal.

The Beijing-headquartered company has a USD 64 billion market capitalisation, according to Refinitiv data based on its most recent closing share price.

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