(MENAFN) An initial public offering (IPO) has been proposed for JD.com, the Chinese ecommerce site backed by Saudi Arabia's Prince Alwaleed bin Talal, at USD20 billion worth in the second quarter of 2014, according to Arabian Business
China's largest internet company, Tencent Holdings, plans to take 15 percent stake in JD.com, which announced flotation plans in January
Bloomberg reported that Tencent assigned JD.com the USD20 billion-price tag
Prince Alwaleed, through his Kingdom Holding investment vehicle, has already acquired a 5 percent shareholding in JD.com in 2013
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.