Shanghai stock exchange accepts fintech affiliate’s IPO application

REUTERS/Aly Song/Files

Shanghai‘s stock exchange on Friday accepted Inc’s fintech affiliate’s application for a listing on its Nasdaq-stlye STAR Market.

Jingdong Digits Technology Holding Co Ltd, also known as JD Digits, plans to raise about 20 billion yuan ($2.93 billion) from the offering to replenish capital and to invest in areas such as big data, artificial intelligence and cloud computing, it said in a regulatory filing.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter