JD Logistics, a subsidiary of Chinese internet giant JD.com, is pricing its issue of new shares at $2.65 each to raise $1.09 billion, according to a Friday filing with the Hong Kong Stock Exchange, reports Reuters.
The deal consists of a placement of about $700 million worth of shares to its parent company JD.com and about $400 million in a primary share sale, according to the filings on Thursday.
The price set will apply to both tranches of the deal, a term sheet for the transaction showed. The capital raising was priced at a discount of about 10% to Thursday’s closing price of $2.94.
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