While most of the buzz concerning Chinese e-commerce players has been spent on the Alibaba IPO, the country’s No. 2, JD.com (JD), earned its own bit of spotlight as it launched an impressive offering today.
The JD.com IPO priced at $19 per share, which was a positive surprise above the expected price range of $16-to-$18. Moreover, Chinese Internet holding company Tencent (TCEHY) purchased $1.3 billion worth of shares. And in aftermarket performance, the JD.com IPO rose about 11% in morning trading. What’s Behind China’s No. 2?
If you don’t know much about JD.com, you’re probably not alone. For one, it’s an e-commerce player in China, so there’s little consumer awareness here in the states, and what interest anyone might take in the market has mostly been focused on Alibaba. Read