JD.com Plans Spin-Off and Separate Listing of JD Health
JD.com, 9/27/20
Chinese B2C e-commerce platform operator and retail infrastructure service provider JD.com (Nasdaq: JD; 9618.HK) announced today that it intends to spin-off subsidiary JD Health by way of a separate listing of the JD Health Shares on the Main Board of the Hong Kong Stock Exchange. On September 25, 2020, JD Health, through its Joint Sponsors, submitted a listing application form (Form A1) to the Hong Kong Stock Exchange to apply for the listing of, and permission to deal in, the JD Health Shares on the Main Board of the Hong Kong Stock Exchange.
It is currently proposed that the Proposed Spin-off will be effected by way of the Global Offering of the JD Health Shares, comprising the Hong Kong Public Offering and the International Offering. Upon completion of the Proposed Spin-off, JD.com will indirectly hold not less than 50% of the shareholdings in JD Health and therefore JD Health will remain as a subsidiary of JD.com.
Details in respect of the Proposed Spin-off, including the size and structure of the Global Offering, the extent of the decrease in shareholding percentage of the Company in JD Health, have not yet been finalized.
Information on JD Health and JD.com
JD Health was incorporated in the Cayman Islands on November 30, 2018. As at the date of this announcement, JD.com, through its wholly owned subsidiary, held approximately 81.04% of JD Health's total issued share capital. JD Health is the largest online healthcare platform and the largest online retail pharmacy by revenue in China in 2019, according to the Frost & Sullivan Report. JD Health's technology-driven platform is centered on the supply chain of pharmaceutical and healthcare products and strengthened by healthcare services, encompassing a user's full life span for all healthcare needs.
Following the completion of the Proposed Spin-off, JD.com Inc. will continue to operate, among others, online retail and marketplace e-commerce businesses offering a diverse range of products (excluding pharmaceutical products and services) and supply chain-based technologies and services.
Keywords: secondary listing e-commerce Internet B2C online healthcare spin-off JD.com JD JD Health 9618.HK IPO
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