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JD.com may raise $1.7b in Nasdaq IPO
http://www.ecns.cn/business/2014/05-22/115454.shtml
May 22nd 2014, 07:53
2014-05-22 16:53 Shanghai Daily Web Editor: Si Huan
Beijing-based online shopping website JD.com is expected to raise US$1.7 billion on Nasdaq on Thursday as it plans to expand its logistics network to keep its foothold in the crowded Chinese online shopping market.
JD.com and Alibaba hold a dominant market share in China's business-to-consumer online shopping market and that is expected to continue after Alibaba completes its listing in the US later this year.
Tencent, China's largest Internet company in terms of market value, took a 15 percent stake in JD.com in March, and market watchers expect more synergies between the two companies in the future.
"JD could put more energy into combining the offline resources of Tencent and expand its influence and attract more shoppers in lower-tier cities," said Lin Wenbin, an analyst with Internet consultancy Analysys International.
Alibaba and JD had nearly 70 percent of combined market share in China's B2C market last year, according to Analysys International.
JD.com sources and dispatches its own merchandise and orders. It also operated a market place similar to that of Alibaba's Taobao, which allows external vendors to sell their products.
JD.com intends to sell 93.7 million shares at an offering price between US$16 and US$18 apiece, according to its prospectus.
China's biggest e-commerce company Alibaba Group earlier this month filed what could become the largest initial public offering in the United States as it seeks to extend its influence in other sectors.
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