JD Digits may file another application for IPO on STAR Market

2021-04-02 06:02:08

According to International Financing Review (IFR), after the spin-off of JD Cloud and AI business to JD Digital Technology Co., Ltd (also JD Digits), JD Digits may file for another IPO on Shanghai Sci-Tech Innovation Board (STAR Market).

Chinese e-commerce giant JD Group announced yesterday that it reached a definitive agreement to spin off its JD Cloud and artificial intelligence business to its financial technology unit JD Digits for a total value of 15.7 billion yuan (about $2.4 billion).

JD Digits issued ordinary shares in exchange for consideration. Upon completion of the transaction, JD’s equity interest in its financial technology unit will increase to approximately 42%.

JD Digits STAR Market JD IPO

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