JD.com announces pricing of IPO
22/05/2014 12:40
JD.com, Inc., China's largest online direct sales company, announced that its initial public offering of 93,685,620 American Depositary Shares (ADSs), each representing two Class A ordinary shares of the Company, was priced at USD 19 per ADS. The ADSs will begin trading on NASDAQ on May 22, 2014 under the symbol "JD." The total gross proceeds of the offering are expected to be USD 1.78 billion, assuming no exercise by the underwriters of their option to purchase additional ADSs. Of the 93,685,620 ADSs being offered, 69,007,360 ADSs are offered by JD.com, and 24,678,260 ADSs are offered by the selling shareholders. The underwriters have been granted a 30-day option to purchase up to an additional 14,052,840 ADSs from JD.com. The Company expects to receive gross proceeds of USD 1.31 billion from the offering at closing, assuming the underwriters do not exercise their option to purchase additional ADSs, and additional gross proceeds of USD 1.31 billion from the issuance of 138,014,720 Class A ordinary shares to Tencent at the IPO price in a private placement concurrent with the closing of the offering. BofA Merrill Lynch and UBS Investment Bank acted as joint global coordinators and lead joint bookrunners for the offering. The joint bookrunners also include Allen & Company LLC, Barclays, China Renaissance and Jefferies. The co-managers of the offering are Oppenheimer & Co, Piper Jaffray, SunTrust Robinson Humphrey and Cowen and Company.
22/05/2014 12:40
JD.com, Inc., China's largest online direct sales company, announced that its initial public offering of 93,685,620 American Depositary Shares (ADSs), each representing two Class A ordinary shares of the Company, was priced at USD 19 per ADS. The ADSs will begin trading on NASDAQ on May 22, 2014 under the symbol "JD." The total gross proceeds of the offering are expected to be USD 1.78 billion, assuming no exercise by the underwriters of their option to purchase additional ADSs. Of the 93,685,620 ADSs being offered, 69,007,360 ADSs are offered by JD.com, and 24,678,260 ADSs are offered by the selling shareholders. The underwriters have been granted a 30-day option to purchase up to an additional 14,052,840 ADSs from JD.com. The Company expects to receive gross proceeds of USD 1.31 billion from the offering at closing, assuming the underwriters do not exercise their option to purchase additional ADSs, and additional gross proceeds of USD 1.31 billion from the issuance of 138,014,720 Class A ordinary shares to Tencent at the IPO price in a private placement concurrent with the closing of the offering. BofA Merrill Lynch and UBS Investment Bank acted as joint global coordinators and lead joint bookrunners for the offering. The joint bookrunners also include Allen & Company LLC, Barclays, China Renaissance and Jefferies. The co-managers of the offering are Oppenheimer & Co, Piper Jaffray, SunTrust Robinson Humphrey and Cowen and Company.
