'Mainland E-commerce Giant JD.com Eyes HK Listing'

The mainland’s second largest e-commerce company JD.com has filed confidentially to list its shares in Hong Kong hoping to raise at least US$2 billion, a report said on Wednesday.

JD's listing could come as soon as the second half of the year, Bloomberg News said, citing sources with knowledge of the planned deal.

JD.com raised US$1.78 billion when it listed on the Nasdaq in New York in 2014 and now has a market capitalisation of US$64 billion. 

The group did not respond to a request for comment on Bloomberg's report.

Like many e-commerce giants, JD looks set to have weathered the worst of the global pandemic's impact as demand soars for home deliveries to people locked down to prevent its spread.

In March the company said net revenue of the first quarter of 2020 was expected to grow at least 10 percent year-on-year.

The potential listing would help the company better compete with e-commerce rivals including Amazon and Chinese titan Alibaba and Amazon.

Alibaba, which is also traded in New York, raised US$12.9 billion in a secondary listing on Hong Kong's stock exchange in November, making it the city's largest initial public offering since insurance giant AIA raised US$20.5 billion in 2010. (AFP)