JD Health stocks jump in Hong Kong IPO
The IPO is the biggest that the Hong Kong Stock Exchange has seen this year
Stocks impacted: JD Health International Inc (6618)
JD Health, the health-care unit of Chinese e-commerce giant JD.com, has raised $3.5 billion in a Hong Kong IPO. The healthcare company’s $3.5 billion IPO is the biggest that the Hong Kong Stock Exchange has seen this year, followed by China Bohai Bank's $2.05 billion listing in July. The firm's IPO prospectus showed it had 72.5 million annual active users as of June 30 compared to 53.5 million at the same time last year. JD Health shares have opened 34% higher from the company's issue price on Tuesday. As a reminder, JD.com owns around 78% of JD Health. Its business is focused on online health-care services such as consultations with doctors as well as its online pharmacy. JD Health recorded revenues of 8.8 billion yuan ($1.3 billion) in the first half of 2020, up from 5 billion yuan in the same period a year earlier.
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