Hong Kong – Chinese e-commerce giant JD.com said Friday it raised HK$30.1 billion ($3.9 billion) in its Hong Kong initial public offering, making it the world’s second-biggest so far this year. The bumper sale comes as Chinese companies eschew Wall Street because of rising tensions between Washington and Beijing.
Fellow Chinese tech giant NetEase raised $2.7 billion in the city earlier this month.
JD.com, which listed on the Nasdaq in New York in 2014, priced its 133 million new shares at HK$226 each, the company said in a statement on Friday.
Trading in Hong Kong is expected to kick off on June 18.
It can also sell an additional 19.95 million new shares at the offer price as an over-allotment option, exercisable from June 11 until 30 days after.
The JD.com IPO is the second-largest global offering this year after Beijing-Shanghai High Speed Railway raised $4.3 billion in January, according to Bloomberg news.
The dual listing will help the company better compete with e-commerce rivals including Amazon and Chinese titan Alibaba, which raised a whopping $12.9 billion in a secondary Hong Kong IPO last year.