JD Logistics, the courier unit of Chinese e-commerce giant JD.com (NASDAQ:JD; HKEX: 9618), is preparing for a 2021 initial public offering (IPO) with an estimated valuation of USD 40 billion, 36Kr reported, citing International Financing Review.
Last December, Reuters wrote that Tencent-backed JD Logistics held early discussions with banks about a potential overseas listing that could raise from USD 8 billion to USD 10 billion.
This would be the third subsidiary JD is listing on the public markets since 2020, following online healthcare platform JD Health and fintech arm JD Digits, which are currently in the process of filing for a Hong Kong and Shanghai IPO, respectively.
Logistics and other services generated USD 1.5 billion in revenue in the three months ended on September 30, contributing 5.8% to JD’s total income of that quarter, according to the e-retailer’s earnings report.
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.