JD.com starts trading in Hong Kong

File photo/Chen Keyuan (NBD)

JD.com started trading on the Hong Kong market Thursday as the third U.S.-listed Chinese mainland company that completed a secondary listing in Hong Kong.

Shares of the e-commerce giant opened at 239 Hong Kong dollars (about 30 U.S. dollars) in the morning, over five percent higher than its offering price.

JD.com issued 133 million shares in total, priced at 226 Hong Kong dollars per share, to raise 29.77 billion Hong Kong dollars after deducting underwriting fees and other expenses. If the over-allotment option is exercised in full, the fund-raising will rise by 4.51 billion Hong Kong dollars.

The company said in its prospectus that it will use the capital raised in Hong Kong to invest in supply chain-based technology innovation, which will benefit its main business including retail and logistics.

In an online listing ceremony, Xu Lei, CEO of JD Retail, said the reason for JD.com coming to Hong Kong is that the company firmly believes that Hong Kong and JD.com will both have a better future.

The homecoming listing of JD.com, first going public on the Nasdaq in 2014, came in an emerging wave of U.S.-listed Chinese companies turning to Hong Kong for a secondary listing. Alibaba made its Hong Kong debut in November, and NetEase began trading a week ago. 

 

Email: gaohan@nbd.com.cn

Editor: Gao Han