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US-listed Chinese stocks
Tech

JD.com said to have approached UBS, Bank of America to arrange Hong Kong secondary listing

  • Following Alibaba’s US$12.9 billion listing in Hong Kong last year, more Chinese tech firms are seeking listings closer to home
  • JD.com, China’s second-largest online retailer, is said to be planning to list on the Hong Kong stock exchange as soon as the first half of this year

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JD.com, China’s second largest online retailer, has reportedly been holding talks with investment institutions to arrange for its secondary listing in Hong Kong. Photo: Reuters
Minghe HuandCelia Chen
Nasdaq-listed e-commerce giant JD.com has reportedly approached Bank of America and UBS to arrange a secondary listing in Hong Kong, following a trend of US-listed Chinese tech companies seeking to move closer to home amid difficult conditions caused by the US-China tech war.

JD.com, China’s second largest online retailer, has been holding talks with investment institutions including Bank of America and UBS to arrange its fundraising for the listing, the Hong Kong Economic Journal reported on Monday, without citing sources.

The two financial institutions also underwrote JD.com’s 2014 initial public offering (IPO) in New York.

The Beijing-headquartered company has not submitted an application for its secondary listing to the Hong Kong stock exchange yet but is planning to do so as soon as the first half of 2020, Hong Kong investment site Ryanben Capital also reported on Monday, citing “informed sources”.

A spokesman at JD.com said the company had no comment on market rumours.

“The possible listing [if true], can help JD.com extend its scale in the global financial market and minimise capital market uncertainties. It could also allow real-time trading for its stocks to the greatest extent,” said Chen Tao, a senior analyst at Beijing-based consultancy Analysys.

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