InvestIdeas

Aiming to raise up to US$600 million (HK$4.68 billion), down from the roughly US$1 billion target reported earlier this year.

JD Industrial plans to issue no more than 253 million ordinary shares.

UBS has joined the offering as a joint sponsor. Other joint sponsors include Bank of America, Goldman Sachs and Haitong International.

It posted revenue of 10.25 billion yuan (HK$11.19 billion) in the first half of this year, up 19 percent year-on-year, with net profit of 450 million yuan, a 55 percent increase from a year earlier.