Financials Oct 09, 2020 03:12 PM (GMT+8) · EqualOcean
Reported by Tencent News, China's e-commerce giant's (JD:NYSE) digital financial services arm JD Digit (JDD)is said to take the same IPO subscription strategy as Alibaba's Ant Group, raising money via mutual funds. Ant Group's IPO subscription plan has shocked the domestic banking industry because it is the first case that a company bypassed commercial banks to finance in an IPO - it endangered the dominant position of them in the market. After Ant, another giant JDD is rumored to adopt the same strategy, though no further details disclosed.
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