Financial News
Written by: Kwong Yueting
2020-09-28 12:24
Last update date: 2020-09-28 12:24
JD.com (9618) announced the spin-off of JD Health's Hong Kong main board and listing. After the spin-off, the company will indirectly hold no less than 50% of JD Health's equity.
According to sources quoted by foreign news agencies, JD Health has raised at least US$3 billion (HK$23.4 billion), higher than the US$2 billion (HK$15.6 billion) previously reported.
People familiar with the matter said that the JD Health Plan will start IPO as soon as December. The joint sponsors are Bank of America, Haitong International and UBS.
JD.com said that JD.com's business model is more diversified, and JD.com's health business will have a relatively rapid business expansion. For example, the spin-off of JD.com Health will attract investors seeking high-growth opportunities in the healthcare business.
As of the end of June this year, JD Health’s adjusted profit was 370 million yuan (RMB ‧ the same below), an increase of 46% year-on-year; revenue was 8.77 billion yuan, a 76% increase.
The company intends to use the proceeds of fund-raising for business expansion, research and development, potential investment and acquisitions or strategic alliances, working capital and general corporate purposes.
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