Logo of Phnom Penh Post newspaper Phnom Penh Post - JD health unit mulling $3.5B Hong Kong IPO

JD health unit mulling $3.5B Hong Kong IPO

Content image - Phnom Penh Post
JD Health’s revenue rose to 8.8bn yuan in Jan-Jun from 5bn yuan last year. AFP

JD health unit mulling $3.5B Hong Kong IPO

The medical arm of Chinese e-commerce giant JD.com is looking to raise up to $3.5 billion through a Hong Kong initial public offering (IPO), in what would be Asia’s biggest ever healthcare listing, a report said on November 25.

JD Health International’s share sale comes after its parent raised around $4 billion in the city this year and comes as it sees a rise in demand for its services during the pandemic.

The firm, China’s biggest online healthcare platform and retail pharmacy according to its prospectus, is looking to sell 381.9 million shares at HK$62.80-HK$70.60 each, raising as much as HK$27 billion ($3.5 billion), Bloomberg News said.

That would value the company at as much as $28.5 billion. It is aiming to list on December 8, AFP understands.

Hong Kong has seen a spate of IPOs this year, delivering a shot in the arm for the financial hub after a turbulent couple of years that have been blighted by sometimes-violent democracy protests, the coronavirus and fallout from China’s new national security law.

JD.com’s sale in June came around the same time as another tech firm, NetEase, raised $2.7 billion and followed Beijing-Shanghai High Speed Railway’s $4.3 billion listing in January.

However, the share market was dealt a blow earlier this month when Ant Group, the financial arm of JD rival Alibaba, was forced to pull its world-record $35 billion listing under pressure from Chinese authorities.

JD Health’s total revenue rose to 8.8 billion yuan ($1.34 billion) in the first half of this year from five billion yuan in the same period last year, it said in its prospectus.


  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • PM asks India for vaccine help

    Prime Minister Hun Sen is seeking assistance from India for the provision of Covid-19 vaccines as the country has produced its own vaccine which is scheduled to be rolled out to more than 300 million Indians this year. The request was made during his meeting with

  • One million Chinese Covid-19 jabs to start rolling in from February

    The government has confirmed that Covid-19 vaccines from China are set to begin arriving in Cambodia by February. This came as the Ministry of Health recorded two imported cases of Covid-19 on January 18. While calling on people to remain vigilant against the pandemic, ministry spokeswoman