JD.Com Draws Bids at Premium in Gray Market Trading
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Institutional investors are bidding for JD.com’s Hong Kong shares before this week’s debut at slightly more than the listing price.
Some institutional investors have bid to buy the Chinese e-commerce company’s shares at between HK$226.10 to HK$237 apiece in gray market trading Wednesday, according to people familiar with the matter. That represents a premium of as much as 4.9% compared to the listing price of HK$226. Brokers quoted offers to sell the shares at between HK$239 and HK$245 each, the people said.