Asian Online Retail: JD.com raised US$1.78 Billion in an IPO in the US this week
Asian Online Retail: JD.com raised US$1.78 Billion in an IPO in the US this week. JD.com is a Chinese online retailer who has a business model similar to Amazon. The shares priced at $19 each which was above the market range of $16-$18. The shares started trading on the NASDAQ last night under the symbol JD. Asian E-commerce is expected to increase 64% this year compared to 12% in the US according to projections by researcher Emarketer Inc. The pricing values JD.com at $26 Billion or 2.3x last year's sales of $11.5 billion. JD story here: (VIEW LINK). Alibaba is also scheduled to IPO in the US later this month. I don't know about you, but if I could buy an Asian online retailer for less than 1x gross turnover it would seem like a good deal. iBuy (IBY) is the ASX's answer to that.
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