JD.com announces JD Property's Series B Financing for business expansion
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JD.com (NASDAQ:JD) announced that subsidiary JD PropertyÂ and the infrastructure asset management and integrated service platform within the group have entered into definitive agreements for its non-redeemable series B preferred share financing.
The total amount raised in this round is expected to be ~$800M.
The financing will facilitate JD Property's business expansion and model transformation, and further strengthen its infrastructure property management capabilities, so as to further enhance its leading position in China's modern logistics infrastructure industry.
Post transaction completion, JD.com will remain the majority shareholder of JD Property.