In China’s push to call back home some of its largest tech darlings listed outside of their home turf, Alibaba and JD, two of the largest Chinese e-commerce powerhouses, could be floated in China’s A-Shares market by issuing China Deposit Recipients (CDR) in as early as June, according to a report by local financial media Caixin, citing people familiar with the matter.
Alibaba has tapped CITIC Securities, China’s largest full-service investment bank, as underwriter. Given the size of Alibaba’s market capitalization, a second underwriter might be recruited. China International Capital Corporation said it’s been trying to strike a deal.
The group of underwriters for JD includes Huajing Securities, CSC Financial, as well as Huatai Securities.
Read more: China Luring Tech Giants like Alibaba, Tencent and Baidu to Relist at Home