JD Logistics shares jumps in Hong Kong inventory debut

JD Logistics Inc.’s shares have jumped 14% of their buying and selling debut in Hong Kong

HONG KONG — JD Logistics’ shares jumped 14% of their buying and selling debut Friday in Hong Kong.

The corporate is a subsidiary of Chinese language e-commerce large JD.com. It’s the newest know-how firm to checklist within the semi-autonomous Chinese language metropolis as Beijing intensifies scrutiny of the know-how sector.

The agency raised $3.1 billion in its preliminary public providing. That’s the second largest for this 12 months in Hong Kong after short-video agency Kuaishou raised $5.3 billion.

Beijing not too long ago has cracked down on China’s thriving web trade, searching for to exert extra management and curb anti-competitive habits, with actions taken towards firms together with Alibaba, Tencent and Meituan.

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