JD Health mulls $1 Billion Hong Kong Listing
JD.com, China’s second largest e-commerce platform, is planning to list its health care arm on the Hong Kong Stock Exchange, Bloomberg reported, citing people familiar with the matter.
JD Health was spun off from its online retail parent last May in preparation for a potential IPO. The subsidiary raised nearly $1 billion in its Series A, and another $830 million last month in its Series B.
JD.com, which raised $3.87 billion in a secondary listing in Hong Kong just three months ago, has picked several banks for JD Health’s listing that could fetch as much as $1 billion, sources said.
China’s internet health care sector has steadily grown in recent years, and the global pandemic has only accelerated the country’s shift toward telemedicine. Offering online pharmacy and medical consultation services, JD Health will once again clash with familiar tech rivals in Alibaba’s Ali Health, Tencent’s WeDoctor, and Ping An’s Good Doctor in the increasingly crowded online health care sector.
JD Health was spun off from its online retail parent last May in preparation for a potential IPO. The subsidiary raised nearly $1 billion in its Series A, and another $830 million last month in its Series B.
JD.com, which raised $3.87 billion in a secondary listing in Hong Kong just three months ago, has picked several banks for JD Health’s listing that could fetch as much as $1 billion, sources said.
China’s internet health care sector has steadily grown in recent years, and the global pandemic has only accelerated the country’s shift toward telemedicine. Offering online pharmacy and medical consultation services, JD Health will once again clash with familiar tech rivals in Alibaba’s Ali Health, Tencent’s WeDoctor, and Ping An’s Good Doctor in the increasingly crowded online health care sector.
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