The JD Logistics IPO and the Growth in Chinese Last-Mile Logistics
JD Logistics is planning to raise $3.4 billion in an IPO. Three issues that stand out: First, JD attracted a world-class network of largely US-based investments banks, including Bank of America and Goldman Sachs. Nevertheless, they chose the Hong Kong exchange for their listing. This reflects the fact that Chinese and US markets are increasingly separating from one another. [...]