Jingdong Mall (JD.com) Files For $1.5 Billion IPO
Fresh and interesting news from Reuters concerning Jingdong Mall (JD.com), the Chinese electronic commerce company founded in 1998, which filed for a $1.50 billion IPO. Investors are still waiting for Alibaba's IPO filing. "JD.com, China's second-largest e-commerce company behind Alibaba Group Holding Ltd, said on Thursday it plans to raise up to $1.5 billion in an initial public offering in the United States. JD.com, which said in December it expected to top 100 billion yuan ($16.51 billion) in annual sales for the first time, is riding on China's booming e-commerce industry as internet penetration surges in the world's most populous nation. Business-to-consumer online sales in China are expected to surpass $180 billion this year, according to market research firm eMarketer. JD.com has managed in the past six years to secure $2.23 billion from foreign investors, including the Ontario Teachers' Pension Plan and Saudi billionaire Prince Alwaleed bin T...