Yu Yui, a permanent resident of Hong Kong, started at e-commerce giant JD.com as a management trainee in 2008 and climbed the corporate ladder to helm the…
JD Logistics Shares Jumps over 17% from IPO Pricing of HK$40.36 on Friday
3 hours ago by Steve Muchoki · 3 min read
Photo: Depositphotos
During the financial year 2020, JD Logistics arm reported revenue of approximately $11 billion.
JD Logistics shares closed Hong Kong IPO debut trading at HK$41.70, up 3.3% from the opening price. JD Logistics is a spin-off from the Chinese e-commerce firm JD.com Inc (NASDAQ: JD). Notably, JD Logistics shares had risen as much as 18% during the Hong Kong trading hours.
Consequently, JD shares on Nasdaq tweaked approximately 0.23% during the Friday pre-market session to trade around $73.00. Notably, JD Logistics raised approximately $3.2 billion mostly from retail investors and will use the funds to develop infrastructure for logistics according to CEO Yu Yui.