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JD Logistics shares jumps in Hong Kong stock debut – Washington, District of Columbia

Washington, District of Columbia 2021-05-28 01:12:22 –

Hong Kong (AP) — JD Logistics shares rose 14% on Friday’s first transaction in Hong Kong. The company is …

Hong Kong (AP) — JD Logistics shares rose 14% on Friday’s first transaction in Hong Kong.

The company is a subsidiary of JD.com, a leading e-commerce company in China. It is the latest technology company listed in China’s semi-autonomous city as Beijing tightens its scrutiny in the technology sector.

The company raised $ 3.1 billion through an initial public offering. This is the second largest this year in Hong Kong, after short video company Kuaishou has raised $ 5.3 billion.

Beijing has recently cracked down on China’s prosperous Internet industry, exerting more control and trying to curb anti-competitive behavior, and is taking steps against companies such as Alibaba, Tencent and Maytuan.

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