News Snapshot:
By P.R. Venkat JD.com is seeking to raise about US$3.4 billion through a Hong Kong listing of its logistics business, the latest effort by China's second-largest e-commerce company to take its various assets public. JD Logistics plans to sell 609.16 million shares in the initial public offering that would raise up to 26.41 billion Hong Kong dollars ($3.4 billion), it said Monday. The company has set a maximum offer price of HK$43.36 per share and expects to finalize the IPO price by Friday. The shares are expected to trade on the exchange from May 28, the company said. BofA Securities,...
