According to reports, JD Industrial plans to go public in Hong Kong in December, expecting to raise between 500 million to 600 million USD

AASTOCKS
2025.11.12 08:27

According to reports, JD-SW (09618.HK) plans to launch a pre-IPO roadshow for JD Industrial in Hong Kong this month and officially list in December, aiming to raise USD 500 to 600 million. The company has obtained the overseas listing filing from the China Securities Regulatory Commission and will issue no more than 253 million ordinary shares, with UBS, Bank of America, Goldman Sachs, and Haitong International as joint sponsors.

JD Industrial is an industrial supply chain service platform spun off from JD Group, primarily providing one-stop services for the sale and procurement of industrial products and fulfillment. It is understood that JD Industrial initiated its spin-off listing plan simultaneously with JD Industrial Development in March 2023, but the process was temporarily halted due to market fluctuations. The progress of JD Industrial Development was delayed due to the downturn in the real estate industry, while JD Industrial ultimately advanced after three submissions. Currently, JD Group holds 78.84% of JD Industrial, with other shareholders including GGV Capital, Sequoia China, and other institutions

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