JD’s fintech unit seeks regulatory approval for new attempt at Hong Kong IPO: re...
source link: https://technode.com/2022/11/16/jds-fintech-unit-seeks-regulatory-approval-for-new-attempt-at-hong-kong-ipo-report/
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JD’s fintech unit seeks regulatory approval for new attempt at Hong Kong IPO: report
E-commerce giant JD is hoping to revive a Hong Kong listing for its fintech arm JD Technology as soon as the end of this year, Reuters reported on Tuesday, citing three sources familiar with the matter. The report added that the size of JD Technology’s IPO, which still needs approval from the Chinese regulator, has not yet been decided, but it may be smaller than the previous target of $2 billion. JD integrated its cloud and artificial intelligence units with JD Digits to formally establish JD Technology last January. The company then applied to the China Securities Regulatory Commission (CSRC) seeking a Hong Kong IPO in late January, however Reuters reported in May that it had failed to gain approval. [Reuters]
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