Ahead of Alibaba’s IPO, rival and Tencent partner JD.com raises $1.78b in US IPO
May22
E-commerce in China has been thrust into the global limelight, as people all over the world eye Alibaba’s public offering, which is expected to rank as the largest tech IPO to date. Ahead of Alibaba’s IPO though, its rival JD.com announced that it has raised $1.78 billion in its US IPO. The online retailer sold 93,685,620 American Depositary Shares at $19 each and will be making its debut when NASDAQ opens for trading later today. Bloomberg says that this makes JD the largest ever offering of a Chinese internet firm’s IPO in New York. However, this will almost certainly be eclipsed soon…
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