Chinese E-Commerce Company JD.com Prices At $19 A Share
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Chinese e-commerce company JD.com has priced its IPO at $19 per share, above the expected $16-$18 that the company outlined in its filing with the SEC, reports The Wall Street Journal.
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JD.com's IPO comes on the heels of disappointing earnings out of from Weibo (WB) after the close. Weibo said it expects revenue in its second quarter to come in between $74 million and $76 million, below expectations for $77.85 million. Shares of Weibo are down more than 8.5% in after hours trade.
JD.com's pricing, along with Weibo's report, come ahead of a much-anticipated debut from Alibaba, which filed with the SEC earlier this month.
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Shares of JD.com will debut on the Nasdaq tomorrow under the ticker 'JD'.
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