Subscribe
|
|
|
|
|
|
|
News

JD.com raises almost USD 4 bln in its Hong Kong Stock Exchange debut

Thursday 18 June 2020 14:37 CET | News

China-based ecommerce player JD.com has raised almost USD 4 billion after making its Hong Kong Stock Exchange debut.

According to BBC News, JD.com’s shares rose more than 5% during their first day of trading on the Hong Kong stock. The initiative comes as pressure increases in the US on Chinese companies amid escalating tensions between the two economies. Therefore, other China-based companies are also preparing similar listings in Hong Kong.

Besides, financial dealings of US-listed Chinese companies were also affected in the wake of the Luckin Coffee accounting scandal, which revealed that the company had uncovered USD 310 million in fake transactions, in April 2020.

Luckin's Nasdaq listing had been one of China's highlights in the US stock market of 2019. However, since details of the scandal emerged, Nasdaq tightened its listing regulations. Besides, the US Senate has also passed a bill that could block some Chinese companies from selling shares on American stock exchanges, BBC News reported.

More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: JD.com, Hong Kong Stock Exchange, US, fake transactions, shares, American stock exchanges, ecommerce
Categories: Payments & Commerce
Companies:
Countries: Hong Kong
This article is part of category

Payments & Commerce

::: more





Industry Events

Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like