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12-03-14

JD.com valued at USD20 b in IPO

(MENAFN) An initial public offering (IPO) has been proposed for JD.com, the Chinese ecommerce site backed by Saudi Arabia's Prince Alwaleed bin Talal, at USD20 billion worth in the second quarter of 2014, according to Arabian Business. China's largest internet company, Tencent Holdings, plans to take 15 percent stake in JD.com, which announced flotation plans in January. Bloomberg reported that Tencent assigned JD.com the USD20 billion-price tag. Prince Alwaleed, through his Kingdom Holding investment vehicle, has already acquired a 5 percent shareholding in JD.com in 2013.