Chinese e-commerce site JD.com has filed confidentially for a second listing in Hong Kong, according to people with knowledge of the matter.
The offering could raise at least $2bn (€1.84bn), the anonymous sources said. The Beijing-based company, which currently trades on Nasdaq, has a market value of $64bn.
The deal comes after JD rival Alibaba Group raised $13bn in a Hong Kong share sale last year. The Alibaba deal was seen as a homecoming for China-based companies and a win for the Hong Kong Stock Exchanges & Clearing Ltd. which lost these deals to its US counterparts a decade ago as it did not allow dual-class share voting at the time. The rule was relaxed in 2018.
The deal could come soon as early as the second half of the year, according to one of the people. Deliberations are ongoing and the size of the offering could still change, the sources said. Shares of JD.com have risen 23% this year.