Financials, Consumer Staples Sep 04, 2020 11:31 AM (GMT+8) · EqualOcean
JD Digital (JDD) announced that it terminated the IPO 'tutorship' - an advising period for the pre-IPO company with investment bank - with CITIC Securities and Huajing Securities. JDD started the advising period in late June with four investment banks being its joint sponsors. It stopped the cooperation at the end of August with two of them in order to comply with Chinese SEC's regulation, a company can only have at most two joint sponsors help its IPO. Being the most valuable subsidiary of JD.com (JD:NYSE), JDD carries the fintech ambition of the Chinese e-commerce titan.

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