JD.com shareholders raise $619m

It is the first selldown by shareholders in the Chinese online retailer, which listed its shares on Nasdaq in May, paving the way for Alibaba.

JD.com shareholders raised $619 million in a share sale on Wednesday, offloading roughly 26 million ADRs in the Chinese online retailer.

DST Global Funds, Best Alliance International Holdings and Hillhouse Capital sold the units at $23.80 each, marking the first secondary placement for the company after its highly successful Nasdaq flotation.

The shareholders initially sought to offload 21.8 million shares but the deal was increased, an indication of strong demand.

Allocations were still being finalised late Wednesday under the leads of Bank of America Merrill Lynch and UBS. China Renaissance, Barclays and Jefferies acted as co-managers.

Although hedge...

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