off-the-wire

China's JD.com to spin off JD Industrials in Hong Kong float

Kitco Media
By Reuters
Published:
Updated:
Reuters
HONG KONG, March 30 (Reuters) - Chinese e-commerce firm JD.com Inc on Thursday said it planned to spin off JD Industrials, its supply chain-based technology and service provider unit, for listing on the Hong Kong Stock Exchange.


Upon completion of the proposed spin off, JD.Com will continue to indirectly hold more than 50% of the shares in JD Industrials which will remain as a subsidiary of the company.


The size and structure of the initial public offering have not yet been finalised. U.S. listed shares of JD.Com rose more than 5% in premarket trading.
(Reporting by Twinnie Siu; Editing by Sharon Singleton)

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