Shares of JD Logistics Inc. have jumped 14% since the start of its trading in Hong Kong
Hong Kong – JD Logistics shares jumped 14% at the start of their business in Hong Kong on Friday.
The company is a subsidiary of Chinese e-commerce giant JD.com. It is the latest technology company to be listed in the semi-autonomous Chinese city as Beijing intensifies investigations into the technology sector.
The firm raised $3.1 billion in its initial public offering. It is the second largest for this year in Hong Kong after short-video firm Kuishau raised $ 5.3 billion.
Beijing has sought more control over China’s thriving Internet industry and curbs anti-competitive behavior, with recent crackdowns against companies including Alibaba, Tencent and Meituan.