China Alibaba rival JD raises $12 billion via IPO stock listings

On July 16, 2020, employees load packages into delivery trucks at a distribution center in Beijing.

GREG BAKER | AFP | Getty Images

BEIJING – In less than a year, Chinese e-commerce giant raised $ 12 billion through public offerings in Hong Kong and New York.

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

Here are the four JD partners who went public since June:

1. JD Logistics, the company’s delivery unit, went public in Hong Kong on Friday and raised approximately $ 3.2 billion. The large network of warehouses and more than 200,000 delivery agents has given parent company an advantage in e-commerce over Alibaba.

The stock closed 3.3% higher on the first day of trading after rising more than 18% at one point.

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4. The food supplier Dada Nexus, in which the strategic investor JD acquired a majority stake earlier this year, raised USD 320 million as part of its public offering on the Nasdaq on June 5. The stock is up about 59% since going public.

The four stock offerings raised a total of $ 12.02 billion.

The four stocks, excluding the New York parent company, now have a market capitalization of around $ 198 billion, according to Wind Information. Numbers can vary slightly due to factors such as exchange rates and how bank charges are calculated.

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