JD.com Could Accelerate Secondary Listing Preparations after Positive Q1 2020 Report

May 20, 2020, 15:22pm2020/05/20 15:24:55 Greg Grigorian

According to IPOzaozhidao, after the release of its Q1 financial report on May 15, JD.com<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> 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.

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While JD.com<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> 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<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’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<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> yet again outdid JD.com<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> in market cap. The rapidly growing Shanghai-based company has been posing a risk to JD.com<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’s stock price for over a year now.