According to IPOzaozhidao, after the release of its Q1 financial report on May 15, JD.com accelerated its preparations for a secondary listing in Hong Kong. The fundraising expectations are reported to still stand at about $3 billion. Chinese media predict that the company might list between June 5 and June 8.
While JD.com has not commented on any of the rumours, it recently made a suggestive statement, saying that there will be “big moves” during its annual 618 (June 18) shopping festival this year.
IPOzaozhidao notes that since the financial report was released, “five well-known investment banks/brokers” in China and abroad analyzed the company’s business unanimously giving it a “buy” rating.
JD.com’s good Q1 2020 performance, the secondary listing in Hong Kong and the possible spin-off of JD Logistics could become a catalyst for the growth of the company’s stock price. Last week the local e-commerce freshman Pinduoduo yet again outdid JD.com in market cap. The rapidly growing Shanghai-based company has been posing a risk to JD.com’s stock price for over a year now.