Alibaba’s Rival JD Raises Over $10 billion Through Stock Offerings

E-commerce Chinese company JD.com has raised more than $10 billion through public offering in New York and Hong Kong.

While Bank of America was the only investment bank to participate in every single listing, according to public filings, the listings entailed JD.com’s subsidiaries and its own public offerings and its secondary stock offering in Hong Kong.

The company’s delivery wing, JD Logistics which has over 200,000 delivery workers and a chain of warehouses, went public on Friday in Hong Kong and raised $3.2 billion. The country’s delivery unit is one of Alibaba’s strongest rivals. On the first day of trading, shares closed 3.3 percent higher after surging more than 18 percent at one point.

The company’s subsidiary JD Health raised $4 billion last year in a Hong Kong listing. JD Health is the company’s wing that sells medicine and provides an online health consulting platform. The stock is up more than 50 percent since the IPO.

JD gained ownership of grocery delivery company Dada Nexus this year. On the 5^th of June, 2020, the company raised $320 million in its public offering on Nasdaq. Since its IPO, the stock has been up 59 percent.

JD.com (parent company) raised a total of $4.5 billion in a secondary listing on the 18^th of June, 2020. According to CNBC’s report, the Hong Kong-listed stock is up about 25 percent while the New York listed shares are up over 280 percent since it was listed on Nasdaq in 2014.

According to CNBC, a gross total of $12.02 billion was raised by the four stock offerings.

CNBC reported that the four stocks, excluding the New York parent company, now have market capitalization of $198 billion, and this data is according to information provided by Wind Information.