JD.com's Supply Chain Unit Raises Up to $424 Million in Hong Kong IPO

JD.com's supply-chain technology unit, Jingdong Industrials, is seeking up to $424 million in its Hong Kong IPO. The company is offering 211 million shares at HK$12.70 to HK$15.50 each and plans to use the funds to enhance its industrial supply-chain capabilities and support expansion, investments, and acquisitions. The IPO is set to list on December 11.