JD.com climbs on Hong Kong debut with more new stocks to follow

Yum China among those moving ahead with plans to list in the city

JD.com's opening in Hong Kong could boost the hopes of other mainland Chinese companies that are queuing up either for an initial public offering or a secondary listing, amid threats from Washington of being pushed out of U.S. exchanges. © AP

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

June 18, 2020 12:47 JST

Updated on June 18, 2020 18:50 JST

HONG KONG -- JD.com shares rose 3.5% on their Hong Kong trading debut on Thursday after the company raised as much as $3.88 billion in the city's largest listing so far this year, sending an encouraging signal for companies lining up to raise capital.

China's second-largest online retailer's shares closed at 234 Hong Kong dollars ($30.19), compared with an issue price of HK$226. The shares had initially surged to HK$239.