China scrutiny stymies JD.Com fintech unit’s $2 billion Hong Kong IPO – sources | May 12, 2022 at 4:01 AM
  • Technology, the fintech arm of Chinese e-commerce company JD.Com, has been forced to delay an up to $2 billion Hong Kong IPO because domestic regulatory approval for the listing has not been forthcoming.
  • It has not yet managed to secure approval from the CSRC which is needed for the domestically incorporated company to list offshore, including in the Chinese-controlled territory of Hong Kong.
  • In the same month, JD.Com sold its cloud and AI businesses to JD Digits for a combined valuation of 15.7 billion yuan.