Beijing-based JD.com Inc (NASDAQ: JD) has reportedly hired investment banking company UBS and Bank of America to prepare for its secondary listing in Hong Kong, according to daily newspaper Hong Kong Economic Journal.
China’s second-largest e-commerce firm JD.com would start listing as early as the middle of this year, but has yet to file a confidential listing application with the Stock Exchange of Hong Kong, according to the report.
JD.com has not replied to KrASIA’s request for comment.
The company’s listing plan comes after its rival Alibaba raised USD 12.9 billion by selling 575 million shares to investors last November. These shares started trading on the Hong Kong stock market on November 26.
Following great dives last week, Alibaba’s stocks are trading around HKD 184 (USD 23.70) at about 10:40 am on Monday, still above the final Hong Kong public offering price of HKD 176 per share.