Beijing-based e-commerce platform JD.com Inc. is in talks with bankers over an IPO of its Chinese online grocery joint venture with Walmart Inc., tech industry website The Information reported Aug. 16, citing sources familiar with the matter.
Dada-JD Daojia is reportedly looking to raise as much as $500 million from a May 2020 U.S. listing. Talks are still in early stages, and the target amount and timing of the IPO could change, the report said.
In August 2018, Dada-JD Daojia received a $500 million investment from JD.com and Walmart. The deal increased the U.S. grocer's stake in the venture to 10% and gave it a seat on the board.
JD.com and Walmart did not immediately respond to S&P Global Market Intelligence's requests for comment.
