JD.com hopes to raise $1.5 bil­lion in IPO

China Daily (Canada) - - NEWSCAPSULE -

JD. com, China’s sec­ond­biggest elec­tronic com­merce com­pany, filed to raise $1.5 bil­lion in a US ini­tial pub­lic of­fer­ing that would be the largest by a Chi­nese In­ter­net com­pany, re­flect­ing China’s boom­ing online re­tail mar­ket.

For­merly known as 360buy Jing­dong Inc and backed by Saudi bil­lion­aire Prince Al­waleed bin Talal, JD.com is said to be try­ing to hold its IPO in the US ahead of ri­val and mar­ket leader Alibaba Group Hold­ing Ltd. Alibaba has not yet an­nounced plans for a US IPO. If it were to go pub­lic this year as ex­pected, the of­fer­ing would be the big­gest since Face­book Inc’s 2012 deal.

JD.com, founded in 1998 as Jing­dong Cen­tury Trad­ing Co, is reap­ing the ben­e­fits of the boom. It said in De­cem­ber it would top its 2013 sales tar­get of 100 bil­lion yuan ($16.5 bil­lion). (Photo 1)

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