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JD Logistics plans overseas IPO targeting $30 bn valuation

JD Logistics IPO

The company is expected to raise between $8 billion to $10 billion in the public offering

JD.Com’s logistics unit has had talks with banks about a potential overseas IPO, according to media reports. JD Logistics’ potential IPO could raise between $8 billion to $10 billion. It is targeting a valuation of at least $30 billion, according to media reports.

JD.Com is the second largest Chinese ecommerce company headquartered in Beijing. JD Logistics float is expected to take place in the second half of 2020. 

JD Logistics’ listing might take place in Hong Kong or New York. In September, it operated more than 650 warehouses sprawling across 16 million square meters.  The logistics firm will deliver packages and other services to the Chinese ecommerce major and other global clients. 

In 2017, JD.Com made its logistics unit into a separate entity. Later, the unit’s delivery and warehousing services were open to third-party companies. 

Last year, its logistics unit raised $2.5 billion in a funding round which included investors such as Hillhouse Capital, Sequoia Capital China, China Merchants, Tencent, and China Life Insurance. After the fundraising, its valuation reached 13.5 billion. 

More recently, JD.com and Lenovo expanded their long-term partnership to launch a business-to-manufacturer (B2M) platform to offer customised products and services to enterprise clients. This marked a milestone for the procurement industry.

Chunzheng Song, president of JD Business, told the local media that, “The digital transformation has greatly impacted the enterprise procurement sector. As China’s largest retailer, JD.com is committed to efforts to streamline the procurement process for enterprises of all sizes.” 

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