China’s JD.com, Inc.—also known as Jingdong or 360Buy—is planning for an initial public offering (IPO) in the second half of 2014 that could raise up to $2 billion, according to Bloomberg News. Jingdong, one of China’s largest e-retailers, is mulling a Hong Kong listing but leaning toward the United States. If successful, this would be the largest US listing by a Chinese company in a decade.
Jingdong is not the first Chinese e-retailer to announce IPO plans for this year. Rival Alibaba is expected to announce a $15 billion IPO in 2014. However, the company has not stated publicly where the IPO will be listed. Bloomberg reports that sources close to Jingdong say that company officials want to schedule their IPO so that it does not conflict with Alibaba’s.
Jingdong’s chief executive officer first announced the company’s interest in an IPO in May 2011. Since then, the company has received $700 million in investments from Saudi Prince Alwaleed bin Talal’s Kingdom Holding Co., Canada’s Ontario Teacher’s Pension Plan, and other major stakeholders.