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JD.com raises $1.8bn in New York float JD.com raises $1.8bn in New York float
(about 7 hours later)
Chinese online retailer JD.com raised almost $1.8 billion from its initial public offering on the Nasdaq late on Wednesday in a strong IPO that bodes well for bigger rival Alibaba's offering soon.Chinese online retailer JD.com raised almost $1.8 billion from its initial public offering on the Nasdaq late on Wednesday in a strong IPO that bodes well for bigger rival Alibaba's offering soon.
The IPO priced at $19 per American Depositary Share, above the anticipated range of $16 to $18, a level that values the whole of the company at more than $25 billion.JD.com's shares are expected to start trading on Thursday.In IPO documents, JD.com said it was "the largest online direct sales company in China in terms of transaction volume in 2013, with a market share in China of 46.5%, according to iResearch."In the documents, the e-commerce company said it had 47.4 million active customer accounts in 2013 and fulfilled 323.3 million orders last year, when it had $11.5 billion in net revenues and made a net loss of $8 million. The IPO priced at $19 per American Depositary Share, above the anticipated range of $16 to $18, a level that values the whole of the company at more than $25 billion.JD.com's shares are expected to start trading on Thursday.In IPO documents, JD.com said it was "the largest online direct sales company in China in terms of transaction volume in 2013, with a market share in China of 46.5 per cent, according to iResearch."In the documents, the e-commerce company said it had 47.4 million active customer accounts in 2013 and fulfilled 323.3 million orders last year, when it had $11.5 billion in net revenues and made a net loss of $8 million.