The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
JD Health International Inc is looking to raise as much as $3.5 billion in its Hong Kong initial public offering in what would be Asia’s biggest health-care listing on record.
The healthcare unit of China’s No. 2 e-commerce giant JD.com Inc is selling 381.9 million shares at HK$62.8 to HK$70.58 each, according to terms of the deal obtained by Bloomberg News. The price range values JD Health at $25.3 billion to $28.5 billion.
JD Health secured six cornerstone investors for its IPO who agreed to subscribed for as much as $1.35 billion of stock, including Singapore sovereign wealth fund GIC Pte, Hillhouse Capital and BlackRock.
The planned IPO is set to surpass the $2.3 billion offering by Japan’s Ostuka Holdings Co a decade ago as Asia’s biggest listing in the sector, according to data compiled by Bloomberg.