JD Health raises $3.5B in Hong Kong IPO amid U.S. crackdown on Chinese shares

 

• JD Health, the healthcare unit of Chinese e-commerce giant JD.com (NASDAQ:JD), has raised $3.5B in a Hong Kong initial public offering, as the U.S. passed a law to kick Chinese companies off U.S. stock exchanges if they do not fully comply with U.S. auditing rules.
• The company issued 381.9M shares priced at 70.58 Hong Kong dollars ($9.11) per share, sources told CNBC, valuing the listing at the top end of of the 62.8 Hong Kong dollars to 70.58 Hong Kong dollars marketed to investors.
• JD Health is focused on online health-care services such as consultations with doctors as well as its online pharmacy. Shares are expected to start trading on Dec. 8.
• JD.com itself carried out a secondary listing in Hong Kong in June and another Chinese internet firm, NetEase, pulled off a secondary listing in Hong Kong the same month.
• https://seekingalpha.com/news/3641220-jd-health-raises-3_5b-in-hong-kong-ipo-amid-u-s-crackdown-on-chinese-shares