Greater China

China’s JD.com to spin off industrial, property units in Hong Kong listing

JD.com said it would continue to hold a stake of more than 50% in JD Industrials and JD Property.

Pilot PE real estate funds will be allowed to invest in residential property, including unfinished projects.

The logistics unit is currently valued at more than $20b.

The size and structure of the initial public offering have not yet been finalised.

The Volvo owner is the first established carmaker to enter the premium smartphone sector.

The intra-group transaction will have no impact on the Japanese tech investor’s group earnings.

Conditions include sharing excess profit with the US government.

Alta aims to bring greater accessibility and liquidity to alternative investments.

Keep Inc, the largest online fitness platform in China, is making a third attempt to list in Hong Kong.

The fund has been set up in partnership with several institutional investors in China.