JD.com Shares Surge In Hong Kong Debut

The shares of JD.com Inc. JD were trading 3.54% higher in its Hong Kong debut at press time on Wednesday.

What Happened

The Chinese e-commerce company had raised nearly $3.9 billion (HKD 30 billion) in its secondary public offering in the autonomous city last week, selling 133 million shares priced at $29.16 each.

JD.com shares were trading at approximately $30.27 in Hong Kong at press time.

The Alibaba Group Holding Ltd. BABA competitor is listing in a secondary market against a backdrop of rising tensions between the United States and China.

The U.S. Senate last month passed a bill that threatens Chinese companies with delisting at the country's exchanges if they can't establish that they aren't owned or controlled by a foreign government.

Exchange desks, including the Nasdaq Stock Market, have also reportedly tightened listing rules for Chinese companies, in the aftermath of the Luckin Coffee LK securities fraud discovery.

Price Action

JD.com shares closed nearly 1.7% higher in New York at $62.01 on Wednesday. The shares were down 0.3% in the after-hours session.