Notice: amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `pre_get_posts` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the theme with slug `publisher` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/runcloud/webapps/techilive/wp-includes/functions.php on line 5313
JD Logistics, the delivery arm of the Chinese e-commerce giant, gains in its I.P.O. - TechiLive.in

JD Logistics, the delivery arm of the Chinese e-commerce giant, gains in its I.P.O.

0

JD Logistics, a supply chain unit of JD.com, the big Chinese internet retailer, raised more than $3.1 billion in a share listing in Hong Kong on Friday, the latest Chinese company to raise money in a record-breaking year for the city’s stock exchange.

Investors were watching the initial public offering to gauge whether there was still an appetite for splashy debuts by Chinese internet companies at a time when the technology industry is facing intense regulatory scrutiny from Beijing.

The scrutiny did not appear to bother traders, who sent the stock up by as much as 18 percent during its first day of trading on the Hong Kong stock exchange. But the stock pared most of those gains during the session, and closed 3.3 percent higher than its listing price, at 41.70 Hong Kong dollars, or $5.37.

Loading...

The offering by JD Logistics, which helps JD.com provide same-day and next-day delivery for tens of thousands of counties and towns in China, valued the company at $4 billion, making it the third-largest share offering in Hong Kong this year.

Beijing has imposed record fines on some of China’s biggest internet companies like Alibaba as regulators try to tame the power and anticompetitive nature of the country’s most popular and ubiquitous technology companies.

On Friday, Yu Rui, the chief executive of JD Logistics, addressed the regulatory scrutiny and said the company would use the money it had raised to improve its ability to serve smaller cities and pursue overseas markets.

Loading...

Some of the company’s biggest shareholders are Blackstone, the Wall Street private equity firm; Temasek, Singapore’s sovereign wealth fund; and the hedge funds Tiger Global and Oaktree.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

Loading...

For all the latest Education News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Loading...
Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@techilive.in. The content will be deleted within 24 hours.

Leave a comment