Inside Retail Asia reports that Chinese e-commerce company JD.com plans to spin off its real estate and industrial units and list them on the Hong Kong Stock Exchange. In 2017, the Beijing-based company spun off its logistics unit into a separate entity and then opened its delivery and warehousing services to third-party companies.
The news comes a few days after Alibaba Group announced that it also plans to split into six units and explore a capital raise or IPO for most of them. JD.com’s announcement is the latest restructuring in China’s technology sector following a sweeping regulatory crackdown.
According to Inside Retail Asia, JD.com will continue to hold a stake of more than 50 percent in the JD Industrials and JD Property units after the completion of the planned spin-off. JD.com’s U.S.-listed shares rose 6 percent on the news. They had lost more than a third of their value in the past two years.
