News Snapshot:
“JD Logistics, the distribution arm of Chinese ecommerce giant JD.com , is planning to submit an initial public offering application to the Hong Kong stock exchange as soon as this month,” Pandaily reported, citing news from Refinitiv publication IFR and Chinese outlet The Paper . The company is targeting a valuation of US$40 billion as it looks to start trading in the second quarter of 2021. JD’s stock saw a 5.5% increase to HK$372.40 following the reports’ release. It was previously reported that JD Logistics’ financial debut could net it between US$2 billion and US$3 billion . Banks have already...
