Why JD.com Stock Popped on Monday
Shares of JD.com (NASDAQ: JD) climbed as much as 3% as of 11 a.m. ET on Monday. The move came as investors reacted to fresh headlines about an initial public offering (IPO) for JD's industrial services subsidiary, while U.S. equities also drifted higher to start the week.
Reuters reported that JingDong Industrials (JDi) -- JD's supply chain and industrial technology arm -- aims to raise roughly $500 million in a Hong Kong listing for the IPO as soon as late October, with banks including Bank of America, Goldman Sachs, Haitong, UBS, and Huatai on the ticket.
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