JD.com’s fintech arm prepares for IPO in Shanghai’s Star Market
- JD Digits, formerly known as JD Finance, has expanded its range of activities to include projects in artificial intelligence, blockchain and data technologies
- Founded in 2013, JD Digits had a valuation of around US$19 billion after completing its Series B financing round in 2018
Four Chinese investment banks – Guotai Junan Securities, Citic Securities, Minmetals Securities and Huajing Securities – last week signed pre-listing tutoring agreements with JD Digits to support its IPO on the Shanghai Stock Exchange’s Science and Technology Innovation Board, according to their filing to the China Security Regulatory Commission on June 28.
A spokeswoman for Beijing-based JD.com said on Thursday that it has no comment on the matter.
How Chinese e-commerce giant JD.com is keeping employees safe during Covid-19 pandemic
JD Digits, formerly known as JD Finance, was valued at 133 billion yuan (US$18.8 billion) after completing its Series B round of financing in 2018. While fintech continues to be its core business, JD Digits’ other activities cover the fields of data technology, blockchain, artificial intelligence and Internet of Things.