JD.com (JD) to spin off property and industrials units
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China's JD.com to spin off industrial, property units in $1 bn Hong Kong floats
March 30, 2023 9:46 AM EDTBy Twinnie Siu and Scott Murdoch
(Reuters) -E-commerce firm JD.com Inc is planning to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each, two people with direct knowledge said on Friday.
The plan marks the latest revamp in the Chinese technology sector after a sweeping regulatory crackdown.
In a filing on Thurday, JD.com said it would continue to hold a stake of more than 50% in the units, JD Industrials and JD Property, upon completion of the proposed spin-off.
... MoreJD.com (JD) Announces Spin-off And Separate Listing Of JD Property On The Main Board Of The Stock Exchange Of Hong Kong Limited
March 30, 2023 8:44 AM EDT(Updated - March 30, 2023 8:46 AM EDT)
JD.com (NASDAQ: JD) announced:
This announcement is made pursuant to Part XIVA of the SFO, PN15 and Rule 13.09(2)(a) of the Listing Rules.
The Board is pleased to announce that the... More
