HONG KONG -- JD Logistics is set to raise $3.16 billion from its Hong Kong IPO after pricing its shares toward the lower end of their marketed range due to investor concerns about the sector.
Despite the uncertain sentiment, subscriptions for its initial public offering have been brisk, with retail investors placing orders for more than 200 times their share allocation, according to a person familiar with the transaction. The offering, which opened on May 17, closes on Friday.
