Tuesday, 2024 April 16

Alibaba and JD Tap Underwriters for China Stock Market Homecoming

In China’s push to call back home some of its largest tech darlings listed outside of their home turf, Alibaba and JD, two of the largest Chinese e-commerce powerhouses, could be floated in China’s A-Shares market by issuing China Deposit Recipients (CDR) in as early as June, according to a report by local financial media Caixin, citing people familiar with the matter.

Alibaba has tapped CITIC Securities, China’s largest full-service investment bank, as underwriter. Given the size of Alibaba’s market capitalization, a second underwriter might be recruited. China International Capital Corporation said it’s been trying to strike a deal.

The group of underwriters for JD includes Huajing Securities, CSC Financial, as well as Huatai Securities.

Read more: China Luring Tech Giants like Alibaba, Tencent and Baidu to Relist at Home


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