JD.com hires Bank of America for Hong Kong listing

Chinese ecommerce platform JD.com has hired Bank of America and UBS to work on a second listing in Hong Kong.

The listing could happen as early as mid-2020, according to anonymous sources cited by Reuters.

The move would see JD.com join rival Alibaba Group Holding Ltd in adding a stock market listing closer to their domestic market.

READ MORE: JD.com shares jump 12% as its brushes off coronavirus impact and beats estimates

JD.com began trading on the New York Nasdaq in 2014, and at the time broke new records for a Chinese company listing its shares in the US.

Its initial public offering in 2014 shares were 15 times oversubscribed.

Earlier this month JD.com saw stocks jump more than 12 per cent as brushed off coronavirus fears and posted better than expected fourth quarter results.

The Chinese commerce giant saw revenues grow 26.6 per cent to £19.17 billion, coming well above estimates of £18.7 billion.

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