JD Industrials files for Hong Kong IPO

Jingdong Industrials has filed for a listing in Hong Kong, the latest efforts of JD.com (9618)'s expansion strategy in the city.

Mainland media reports the firm is the largest player in China's Maintenance, Repair, and Operations procurement services market.

According to its prospectus, it has become the largest service provider in China's industrial supply chain technology and services market based on transaction volume in 2024, with a market share of 4.1 percent.

Merrill Lynch (Asia Pacific), Goldman Sachs (Asia), Haitong International Capital, and UBS Securities are joint sponsors.

In August, JD.com said it had officially completed the acquisition of Hong Kong’s Kai Bo Food Supermarket, accelerating its expansion into the local retail market.