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Investing.com-- JD.com’s (HK:9618) supply-chain technology arm has begun sounding out investors for a Hong Kong initial public offering that could raise about $500 million in the coming weeks, Bloomberg reported on Monday, citing people familiar with the matter.
Jingdong Industrials Inc. kicked off investor education meetings this week, according to terms of the deal seen by Bloomberg. The unit first filed for a listing in March 2023 and secured approval from China’s securities regulator only in September, the report said.
Proceeds will be used to strengthen its industrial supply-chain business, including upgrading artificial-intelligence systems and supporting expansion through acquisitions and investments, the report stated.
The planned IPO comes amid a resurgence in Hong Kong listings. JD has said the carve-out would help better reflect the unit’s value and give it more direct access to capital markets.