Alibaba rival JD.com to be valued up to $24.6 Billion in IPO.
China’s second most largest e-commerce company and rival to that of Alibaba Group Holding, JD.com, stated in a recent announcement that it is currently expecting to price its initial public offering of each of its 93.7 million American depositary shares at $16 to $18 with a total valuation that totals up to $24.6 billion.
During much earlier within the week, Alibaba showed invests and the public how the Chinese e-commerce industry has grown to become as massive as it’s become and took the first step in what may possibly become the largest debut in tech history.
Despite being far behind Alibaba, which has control over almost 80% of China’s online shopping market, JD.com has raised a total of up to $2.23 billion over the past 6 years from several investors, which include the billionaire Saudi prince Prince Alwaleed bin Talal. JD.com, which was previously known as 360Buy, is similar to that of other Chinese companies listed within the United States, they rely on a legal structure named variable interest entity wherein invest are given economic interest but without ownership. When it filed for an IPO during January 30, 2014 with the U.S Securities and Exchange Commission, JD.com did not disclose information pertaining to its price range and ticker symbol.
While the average tech consumer based in the United States is still quite unfamiliar with the Chinese e-commerce industry, jD.com along with Alibaba are now provider a much warranted look at their operations and activities worldwide.
Despite not being as huge as Alibaba, who are expected to create a piece of history with its IPO. JD.com is still relatively sizeable with it offering and expected price range. The company’s depository shares will be listed on the Nasdaq under the symbol D. The rest shall be offered by stock holders.