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Largest Ever IPO by Chinese Company

JD.com, Inc., a Chinese online direct sales company with a similar business model to Amazon.com, recently just scored the largest initial public offering (IPO) by a Chinese company in the United States… ever!

JD's largest IPO

The online retailer listed on the Nasdaq, issuing 93.685 million ADS (American Depositary Shares) priced at US$19 a share, totaling US$1.78 billion.

Investors seeking to jump on board China’s ever increasing e-commerce market snapped up shares that opened at US$21.75 and spiked as high as US$22.55. The opening was 14.5% higher than its IPO price, while the closing wasn’t as impressive when it finally settled in at US$20.90 a share after the day’s trading.

Its shares began trading on Nasdaq under the symbol “JD,” and many believe this is just a precursor to Alibaba’s IPO coming as soon as August.

H/T: Xinhua

  • Brian

    Alibaba will be bigger!