(Bloomberg) -- JD.com Inc.'s logistics unit is in early discussions with banks about raising $8 billion to $10 billion through an overseas initial public offering, Reuters reported Monday.
JD Logistics is targeting a valuation of at least $30 billion in a Hong Kong or New York IPO in the second half of 2020, Reuters cited unidentified people as saying. The company, which delivers packages for the Chinese e-commerce giant as well as clients around the world, is expected to select banks for the share sale in the second quarter, Reuters reported. A JD representative declined to comment.
To contact the reporter on this story: Zheping Huang in Hong Kong at zhuang245@bloomberg.net
To contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Fion Li, Edwin Chan
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