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JD.com Plans to List Shipping Unit to Ride E-Commerce Boom
- An IPO is said to value the logistics arm at about $40 billion
- JD built one of China’s largest shipping operations over years
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JD.com Inc. plans to list its shipping business in Hong Kong, raising potentially billions of dollars to capitalize on China’s post-Covid e-commerce boom.
JD Logistics Inc.’s initial public offering could raise roughly $5 billion and value the unit at about $40 billion, people familiar with the matter have said. Details of the proposed spinoff haven’t been finalized, the company said in an IPO prospectus filed to the stock exchange.