JingDong Industrials, a unit of Chinese online retailer JD.com (9618), is seeking to raise US$500 million (HK$3.9 billion) with a Hong Kong initial public offering as soon as the end of October, two sources with direct knowledge said, after the firm cleared a key regulatory hurdle.

The company, also known as JDi, refiled for a Hong Kong listing on Sunday after receiving the green light from China's securities regulator last week, more than two years after it first notified the China Securities Regulatory Commission of its offering plans, according to the regulator's disclosures.

The company is planning to launch the offering as soon as possible and complete it in November if it misses a window in October, the sources said. They declined to be identified because the information was confidential.

JDi's long-awaited IPO comes as Hong Kong has experienced a strong recovery in new listings this year, totalling US$23 billion in the year-to-date period, up more than 200 percent from a year earlier, according to data from LSEG.

JD.com, which owns about 79 percent of the unit after spinning it off in 2023, did not immediately respond to a request for comment.

In its Hong Kong IPO filing, JDi said it is the leading industrial supply chain technology and service provider in China.

In the first half of 2025, its revenue rose 18.9 percent from a year earlier to 10.3 billion yuan, the filing said.

Bank of America, Goldman Sachs, Haitong International Securities, UBS and Huatai Financial Holdings are the overall coordinators of the IPO, JDi said in its Sunday stock exchange filing.

REUTERS

JingDong Industrials aims to raise US$500 million in Hong Kong IPO, sources say