China's JD Logistics aims to raise $1.1 bln from new shares

JD Logistics

24/03/2022 10:53

By Scott Murdoch
    SYDNEY, March 24 (Reuters) - JD Logistics  2618.HK  is
looking to raise $1.1 billion from a $700 million share
placement with its parent company JD.Com  9618.HK  plus a $400
million primary capital raising, according to regulatory filings
on Thursday.
    The company is selling the new shares in a range of HK$20.30
to $HK21.15 each, according to a term sheet seen by Reuters.
    JD.com declined to comment on the price range. 
    The shares are being sold at a 8% to 11.7% discount to the
stock's closing price of $HK23 on Thursday, the term sheet
showed.
    Books for the deal opened late in the Asian day on Thursday
ahead of of the U.S market opening.
    JD.com will subscribe for $700 million new shares in the
placement which will be at the same price as the general capital
raising, the term sheet said.
     

 (Reporting by Scott Murdoch in Sydney;Editing by Elaine
Hardcastle)
 ((Scott.Murdoch@thomsonreuters.com;))