JD.com to Spin Off Logistics Unit via Hong Kong Listing
Ever-ambitious Chinese tech giant JD.com (NASDAQ: JD) is planning another spin-off of a large business unit. In a regulatory document filed on Tuesday, the company revealed that it has applied to float shares of its JD Logistics arm on the Hong Kong Stock Exchange. In the likely event that this is accepted, JD Logistics' stock would list on the Main Board of that exchange.
Additionally, JD.com will float JD Logistics shares on another exchange or exchanges in what it is calling a "global offering." It did not say where this listing or listings would occur. It also did not specify how many shares would be sold either in Hong Kong or in total, nor provide a figure for how much capital it aims to raise.
Image source: Getty Images.
Source Fool.com
