China's Jingdong planning $2bln IPO in second half - report

HONG KONG Wed Jan 15, 2014 8:13am EST

HONG KONG Jan 15 (Reuters) - Chinese online retailer 360Buy Jingdong Inc is planning to raise about $2 billion in an initial public offering (IPO) in the second half of this year, Bloomberg reported on Wednesday.

Jingdong, backed by billionaire Prince Alwaleed bin Talal, is working with Bank of America Corp and UBS AG , the report said, citing unnamed sources familiar with the matter.

The company is leaning toward a U.S. listing, though Hong Kong is also being considered as a destination, the report added.

"The company doesn't comment on market rumours," a Jingdong spokesman told Reuters.

In September 2011, IFR, a Thomson Reuters publication, said Jingdong was planning to raise $4-$5 billion through an IPO in the United States.

Alibaba Group Holding Ltd, China's biggest e-commerce company, is also widely expected to launch an IPO this year, though it is yet to hire banks, or decide on a venue or timing of the deal.

Jingdong wants to avoid listing at the same time as a potential IPO of Alibaba, Bloomberg said.