JD.com’s supply-chain technology arm has reportedly started gauging investor interest for its planned IPO in Hong Kong, while Australian graphic design platform Canva is said to be stepping up preparations for a potential offering in the next couple of years.
JD.com unit testing waters for $500m HK IPO
Jingdong Industrials Inc, the supply-chain technology arm of JD.com Inc, has begun testing investor interest for its planned $500 million initial public offering in Hong Kong, Bloomberg reported on Monday (Nov. 24).
The unit began investor-education meetings on Monday, the report said, as it seeks to pursue a listing first filed in March 2023. The company already secured approval from China’s securities regulator in September.
Paperworks seen by Bloomberg showed Jingdong will use the proceeds to expand industrial supply-chain services, improve artificial-intelligence capabilities, and pursue investments and acquisitions.
In its Hong Kong IPO filing, Jingdong said it is the leading industrial supply chain technology and service provider in China. JD.com owns about 79% of the unit after spinning it off in 2023.
Canva gearing up for potential IPO
Design software maker Canva is stepping up preparations for a potential IPO in the next couple of years, according to a Bloomberg report that cited co-founder Cliff Obrecht.
The closely held firm has seen a surge in early adoption for Affinity, its suite of software design tools, after making the product free. Affinity logged about 2 million downloads in the two weeks following the free release, per the report.
Canva was last valued at around $42 billion in a share sale. Co-founders Obrecht, Melanie Perkins, and Cameron Adams recently brought in former Zoom Video Communications Inc. CFO Kelly Steckelberg as a top financial executive.
Canva’s founders have not set a firm timetable for going public, but the recent product rollout and executive additions signal an accelerating IPO runway.
Launched in 2013, Canva is a web-based platform that lets users design everything from wedding invitations and birthday cards to social media posts and presentations.
