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JD.com (09618) spin-off JD.com Health (new listing number: 06618) to be listed in Hong Kong. Book building began today. According to sources, international placements have been opened within hours of this morning’s sales of more than 4 times. JD Health will offer shares from tomorrow (26) to noon on December 1st. JD Health plans to issue 382 million new shares, approximately 12.21% of the expanded share capital, of which 95% will be made up of international placements and 5% of public offerings. The maximum amount of funds raised is 26.96 billion yuan. The offer price is between 62.8 yuan and 70.58 yuan.The entrance fee for one lot (50 shares) is 3565 yuan. JD Health is expected to set pricing on December 1st and pricing on December 8th.
JD Health Business Illustrated
In addition to JD Health, JD.com also plans to spin off JD Logistics next year. The valuation is over HK $ 300 billion. For details, click[Pagina successiva]
Is JD Health stronger than Ali Health and Ping An Good Doctor? See details【Next page】
JD Health has introduced a number of key investors to subscribe approximately US $ 1.35 billion (HK $ 10.53 billion) of shares in total. Major investors include GIC (subscribed for $ 350 million), Tiger Global Fund (subscribed for $ 300 million), BlackRock (subscribed for $ 250 million), China Structural Reform Fund (subscribed for approximately $ 199 million), Hillhouse Capital (subscribed for approximately $ 134 million to $ 151 million) and Lake Bleu Capital (subscribed for $ 100 million). The relevant shares have a lock-up period of 6 months.
40% of the proceeds will be used for business expansion over the next 3-5 years; 30% will be used for research and development expenses over the next 2-3 years; 20% will be used for potential investments and acquisitions or strategic alliances; 10% will be used for general business use.
JD.com had previously proposed to spin off its subsidiary JD Health and be listed on the stock exchange’s main board. After the spin-off, the company will indirectly hold no less than 50% of JD Health’s capital. Joint sponsors are Bank of America, Haitong International and UBS.
(The third edition updates the subscription multiple of the international placement)
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