HONG KONG -- Plans by the logistics unit of Chinese e-commerce platform JD.com for a $4 billion initial public offering have secured the Hong Kong Stock Exchange's approval, according to two people familiar with its efforts.
JD Logistics, which offers supply-chain services from warehousing to distribution, is eyeing a valuation of about $40 billion, the people said. The company got the nod from the Hong Kong bourse's listing committee on Thursday and will start preliminary investor meetings next week.
