JD logistics to raise up to $26.4b in global offering

It is eyeing an offer price worth $39.36-$43.36 each.

JD Logistics, Inc. is planning to raise up to $26.4b in its global offering with offer prices ranging from $39.36-$43.36 each.

The global offering comprises of 609.16 million, of which 18.27 million shares will be for Hong Kong. The remaining 590,88 million shares will be under international offering.

This could raise between $23.9b and $26.4b. Assuming an offer price of $41.36 per share, JD Logistics estimates it will receive net proceeds of $24.71b.

It plans to allocate 55% of the net proceeds on the upgrade and expansion of its logistics networks in the next 12-36 months.

Around 20% will be earmarked for the development of advanced technologies for its supply chain solutions; 15% for the expansion of its breadth and depth solutions and 10% for general corporate purposes.