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IPO

JD Logistics cheers Hong Kong investors with strong debut

Boost after string of IPO flops as shares climb as much as 18%

JD Logistics still gets most of its revenue from parent JD.com, but its share has fallen to just over half.    © Reuters

HONG KONG -- JD Logistics rose as much as 18% in its debut Friday, providing relief for a Hong Kong new listings market that had started to show signs of fatigue.

Shares of the logistics unit of Chinese e-commerce major JD.com closed at HK$41.70 after rising as high as HK$47.75 in early trade. The stock had opened at HK$ 46.05, up from an issue price of HK$40.36. Hong Kong's Hang Seng Index ended little changed.

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