China’s e-commerce company JD.com aims to raise $500 million in a stock market listing for its online grocery and delivery joint venture.
JD.com is in talks with bankers to list shares of the joint venture, Chinese online crowdsourcing logistics portal operator Dada-JD Daojia, in the U.S.
The company's net revenue for the second quarter of 2019 reached $21.9 billion, increasing by 22.9 percent from the same period last year.
In 2018, Dada-JD Daojia had received $500 million in financing from U.S. retailing major Walmart Inc. and JD.com.