JD.com supply-chain tech unit to go public

JD.com’s supply-chain technology unit has started taking investor orders for a Hong Kong initial public offering that may raise as much as HK$3.3 billion ($424 million), capping more than two years of efforts to go public, reports Bloomberg.

Jingdong Industrials is offering 211 million shares at HK$12.70 to HK$15.50 each, according to a filing to the Hong Kong stock exchange Wednesday. The Beijing-based company is set to list its shares on Dec 11. 

The company said it plans to use the funds to enhance its industrial supply-chain capabilities, including AI technologies, and to support expansion, investments, and acquisitions.