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JD.com Prices Offering Above Expectations At $19

Posted on the 21 May 2014 by Worldwide @thedomains

JD.com Inc.’s IPO priced above expectations Wednesday selling 93.7 million American depositary shares for $19 a piece, raising $1.8 billion.

JD.com is set to open on the Nasdaq Stock Market Thursday under the symbol “JD.”

JD.com starts off life as U.S. stock amid strong investor skepticism when it comes to shares of fast-growing technology companies.

The Nasdaq Internet Index has tumbled 8% this year, on the heels of a 65% rally in 2013. Amazon.com Inc., JD.com’s U.S.-based peer, has seen shares slide 24% in 2014. The offering was slated to be the largest U.S. tech IPO since the November debut of Twitter Inc., which has seen its stock drop 50% year-to-date.

JD.com revenue rose 68% to 69 billion Chinese yuan in 2013-or $11.5 billion, though it hasn’t posted an annual profit since at least 2009.”

 


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