JD Logistics approved for IPO; spinoff could raise $4B

JD Logistics, the logistics entity for Chinese e-commerce leader JD.com (NASDAQ:JD), was approved for an initial public offering (IPO) by the Hong Kong Stock Exchange. The spinoff could raise up to $4 billion, following the lead of its sibling spinoff, JD Health International (HKG:6618), which raised $3.9 billion in December.

On Monday, the logistics unit began premarketing meetings led by UBS Financial with joint sponsors including Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS) and Haitong...


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