The healthcare arm of JD.com Inc. has filed an application for an initial public offering in Hong Kong, a little more than three months after JD.com raised US$3.8 billion through a listing in the city.
BofA Securities and UBS are among the banks acting as the joint sponsor for JD Health International Inc.'s IPO, according to an application filed by the company to the Hong Kong Stock Exchange late Sunday.
JD Health didn't disclose the size of the offering nor the timing of the IPO launch.
Hong Kong's IPO market has been active in recent months, drawing several Chinese companies involved in businesses from pharmaceuticals to property to tobacco.
JD Health is an online healthcare platform and online retail pharmacy provider. More than 150 million users had purchased pharmaceutical and healthcare products or used healthcare services on the platform as of June, the application showed.
JD.com through its unit JD Jiankang, owns an 81.04% stake in JD Health.
For the six months ended June 30, JD Health had revenue of 8.78 billion yuan (US$1.29 billion) compared with CNY4.99 billion yuan a year earlier.
Proceeds from the offering will be used for general working capital needs and business development.
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