JD.Com Files For $1.5B US IPO

Beijing-headquartered Chinese e-commerce operator JD.com, Inc. has filed for a U.S. initial public offering, according to a filing with the U.S. securities regulator.

JD.com plans to raise up to US$1.5 billion, and has not decided which stock exchange it will list.

According to its filing document, JD.com’s founder and CEO, Richard Qiangdong Liu, holds 46.2% of the company.

Entities affiliated with Tiger Global Management holds 22.1%. DST Global, an investment firm founded by Russian businessman Yuri Milner, holds 11.2%.

An entity controlled by Capital Today China Growth Fund, L.P., a fund managed by Capital Today founded by Kathy Xu, holds 9.5%.

Saudi Prince Alwaleed bin Talal’s Kingdom Holding Co.holds 5%, and Sequoia Capital holds 2%.

The above investors are listed as principle and selling shareholders.

JD.com made US$8.04 billion in total revenue during the first nine months of 2013, compared with US$6.76 billion for the whole year of 2012. It made US$10 million of net profit during the first nine months of 2013, compared with a US$283 million loss for the whole year of 2012.

BofA Merrill Lynch and UBS Securities are underwriters of the deal.