E-commerce giant JD.com’s (NASDAQ: JD; HKEX: 9618) healthcare spinoff JD Health has received green light from the Hong Kong Stock Exchange for its initial public offering that could raise at least USD 3 billion, according to a November 15 filing.
The company reported total revenue of USD 1.6 billion for 2019, the largest of its kind. Rival Ping An Good Doctor (HKEX: 1833) and Ali Health, the affiliates of insurance giant Ping An and e-commerce behemoth Alibaba, reported USD 732 million and USD 770 million revenue, respectively, for the fiscal year 2019.
JD Health also runs the largest online retail pharmacy in China with a market share of 29.8% in 2019, it said in the prospectus, citing Frost & Sullivan research.
JD Health accumulated 72.5 million annual active users as of June 30, 2020, while Ping An reported 346.2 million registered users for the first half of 2020.
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This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.