JD Health is the healthcare unit of Chinese ecommerce giant JD.com, which completed its secondary listing in Hong Kong earlier this year. Weekly quiz: What's the Sex and the City reboot called? According to the consultancy Frost and Sullivan, China is the world's second-largest market for health care, reaching $998bn in 2019. HONG KONG, Dec 8 — The medical arm of Chinese e-commerce giant JD.com soared 75 per cent on its debut in Hong Kong today, valuing the company at US$50 billion (RM203.6 billion), as investors bank on the pandemic boom in digital health services. According to the prospectus, the company makes more than 80% of its revenues from pharmaceutical and healthcare products. Covid map: Where have the two million deaths been? The company raised $3.48bn and was valued at $29bn ahead of its trading debut. (Bloomberg) -- JD Health International Inc.’s $3.5 billion float already made it Hong Kong’s largest initial public offering of the year. JD Health stock closed 56% higher at 110 Hong Kong dollars a share, the equivalent of $14.19, giving the company a market value of about $44 billion, after earlier rising as … The Hong Kong IPO would value JD Health at about $29bn. 'Violent gust of wind' caused Grand Canyon crash, The 69-year-old trolled for her 'too sexy' photos, Rise and fall of the Spanish state's secret fixer, .css-1snjdh1-IconContainer{display:none;height:0.875em;width:0.875em;vertical-align:-0.0625em;margin-right:0.25em;}Inside the world's richest e-sports player's mansion. While JD Health’s valuation metrics such as price-to-sales comparison remain lower than e-pharmacy peer Alibaba Health, its market cap has surpassed its rival on its Dec. 8 IPO debut. It is one of China's biggest pharmaceutical retailers, selling both to businesses and consumers, with a 30-minute drug delivery service to its users. “China’s health-care market is over ten thousand billion yuan, but JD Health, even as the No. Read about our approach to external linking. JD.com also has plans to list JD Digits, a consumer credit and supply chain financing company in which it owns a 37% stake. Annual active customer accounts increased by 32.1% to 441.6 million in the 12 months ending in September, according to JD.com. The company's market value topped $44 billion at the close of Tuesday trading. Penny-Stock Peddlers Piling Into Reddit Forum Prompt Rule Ch... Bitcoin Ends Choppy Week As Price Drops Below $37,000, WhatsApp Delays Updated Privacy Policy After Confusing Users, Amazon Workers to Hold Mail Union Vote Starting in February. JD Health’s IPO was Hong Kong’s largest this year, followed by China Bohai Bank’s US$2.05 billion July listing. HONG KONG, Dec. 8, 2020 /PRNewswire/ -- China Renaissance ("China Renaissance", stock code: 1911.HK) congratulates JD Health International Inc. ("JD Health" or … JD Health International Inc.'s share price stood at 56 percent above its initial listing price at closing following its initial public offering (IPO) on the Hong Kong stock market on Tuesday. The company hopes to cash in on China's large and growing market for health services and pharmaceuticals. JD Logistics consults banks on plans for a stock sale in Hong Kong. December 7, 2020, 8:30 PM EST Updated on December 8, 2020, 3:28 AM EST 3:28. Owned by e-commerce giant JD.com Inc., JD Health listed its share price at HK$70.58 ($9.11) as the company sought to raise $3.48 billion, making it Hong Kong's largest IPOs since the start of 2020. Dealmakers expect more activity during December. The first-day gains lifted Beijing-based JD Health to a market value of roughly $44 billion, surpassing that of rival Alibaba Health Information Technology Ltd. By the time the market opened, its shares were trading at 94.5 Hong Kong dollars. JD Health raises US$3.5 billion in Hong Kong’s second largest IPO this year. 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JD Health is gearing up to raise is looking to raise as much as $4 billion through an initial public offering (IPO) on the Hong Kong stock exchange, the Financial Times reports.. The BBC is not responsible for the content of external sites. Read more. Photo: Kyodo alt=The health care unit of … The company also offers a variety of online telemedicine services, including specialist medical services and traditional Chinese medicine. Shares of online healthcare rivals have rallied this year amid the pandemic. The term sheet showed that six cornerstone investors led by GIC, Tiger Global and Blackrock had … The company is backed Jack Ma, billionaire founder of JD.com's e-commerce rival Alibaba. The number of people aged 60 or more will approach 487 million by 2050, compared with 254 million last year, according to Beijing’s estimates. The New York-listed company raised $4bn when it listed in June. The offering is the largest of this year’s first-time share sales in Hong Kong -- only a second listing by JD Health’s parent company in June was bigger. JD Health had a popping IPO on the Hong Kong Stock Exchange today: Its shares were priced at $9.11 and ended the day trading at $14.19, making it Hong Kong’s “biggest share market debut of 2020.” The latest winner in Hong Kong's hot streak is JD Health, an online healthcare unit owned by Chinese e-commerce firm JD.com ().The company's shares popped 56% on … JD Health stock closed 56% higher at 110 Hong Kong dollars a share, the equivalent of $14.19, giving the company a market value of about $44 billion, after earlier rising as much as 76%. Dealmakers expect more activity during December. Chinese video platform Bilibili has confidentially filed for a secondary listing in Hong Kong, a source close to the matter told CNBC. Shares of JD Health International Inc. leaped as much as 28% Monday on Hong Kong’s so-called “gray market,” as investor’s hunger for big listings grows. Prime Minister Boris Johnson says the action is needed to protect against the risk of new Covid strains. The offering is the largest of this year’s first-time share sales in Hong Kong -- only a second listing by JD Health’s parent company in June was bigger. Online health services can help plug holes in China's health system, where smaller cities and rural areas are not very well covered by the country's best medical professionals. Watch: JD Health CEO Xin Lijun discusses the listing in an exclusive interview with Bloomberg's Tom Mackenzie. JD Health’s IPO last week is Asia’s biggest health-care listing on record. JD Health’s IPO was Hong Kong’s largest this year, followed by China Bohai Bank’s US$2.05 billion July listing. JD Health's parent company JD.com was among those companies. “Each industry has different criteria,” Xin said. To grab a greater slice of this multibillion-dollar market, Xin said JD Health is seeking acquisitions and investment opportunities in areas such as artificial intelligence companies and wholesale pharmacies. The health arm of JD.com's rival Alibaba has more than doubled in valuation in Hong Kong while personalised health company Ping An Good Doctor has surged in value by more than 50 percent during the pandemic. Norway Warns of Vaccination Risks for Sick Patients Over 80, Stocks Drop the Most in a Week; Dollar Strengthens: Markets Wrap, Apple Plans Upgraded MacBook Pros With Return of Magnetic Charging, Fight for World’s Top Currency Plays Out Among Nordic Neighbors, Vaccine Pledges Unmet; CDC Sounds Alarm on Variant: Virus Update. The company held a celebration at JD.com headquarters in Beijing, virtually linked to the exchange in Hong Kong. .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}China's JD.com raises almost $4bn in Hong Kong share sale, Jack Ma's Ant Group: World's biggest market debut suspended, UK to close all travel corridors from Monday. People 60 and over are already 17% of China's population, Source: United Nations' 2019 global population report. With the net proceeds from the initial public offering (IPO) of about HK$26.5 billion, JD Health issued about 281.9 million shares priced at HK$70.58 each but the stock commenced at HK$94.5 at the market open, rising 34%. JD Health raises US$3.5 billion in Hong Kong’s second largest IPO this year. Conceived by CEO Liu Qiangdong back in 2014, JD Health priced its initial public offering (IPO) at 70.58 Hong Kong dollars each when the company issued 381.9 million shares. The rise gives JD Health, which specialises in online medical consultation and pharmaceutical sales, a market value of more than $40 billion. HONG KONG (Dec 8): JD Health International Inc made one of the strongest public market debuts for a major Hong Kong initial public offering on Tuesday, with its shares closing up 56%. Alibaba Health has more than doubled this year in Hong Kong trading, while Ping An Healthcare and Technology Co. has gained roughly 61%. That represents 12.2% of its enlarged share capital and will value the company at up to $28.5 billion. Owned by e-commerce giant JD.com Inc., JD Health listed its share price at HK$70.58 ($9.11) as the company sought to raise $3.48 billion, making it Hong Kong's largest IPOs since the start of 2020. JD Health International, the health-care arm of Chinese e-tailer JD.com (9618), aims to raise up to US$4 billion (HK$31.2 billion) in Hong Kong's largest initial public offering of 2020. JD.com will still retain a majority stake in JD health, which will remain a subsidiary of the e-commerce giant. JD Health, which will list in Hong Kong on December 8, has locked up several cornerstone investors to buy up to $1.35bn of its shares. JD Health launched an online primary care channel in August, with a target of serving 50 million Chinese families in the next five years. This is despite a smaller user base and potential reliance on Tencent to expand in the prescription-drug market. Hong Kong has seen a flood of new and largely successful listings this year by companies such as JD.com, NetEase Inc. and Nongfu Spring Co. JD Health said the retail portion of its offering was 422 times oversubscribed, prompting it to boost the number of shares set aside for individual investors in the city to 42 million from 19.1 million under a claw-back mechanism. JD Health Jumps 56% in Hong Kong Debut Amid Soaring Demand Bloomberg News. The latest winner in Hong Kong's hot streak is JD Health, an online healthcare unit owned by Chinese e-commerce firm JD.com ().The company's shares popped 56% on …

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