HONG KONG (Reuters) – Chinese e-commerce firm JD.com Inc on Thursday said it planned to spin off JD Industrials, its supply chain-based technology and service provider unit, for listing on the Hong Kong Stock Exchange.
Upon completion of the proposed spin off, JD.Com will continue to indirectly hold more than 50% of the shares in JD Industrials which will remain as a subsidiary of the company.
The size and structure of the initial public offering have not yet been finalised.
U.S. listed shares of JD.Com rose more than 5% in premarket trading.
(Reporting by Twinnie Siu; Editing by Sharon Singleton)
