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Media Reports

JD.com jumps in US market debut


Shares of JD.com, China’s second-largest e-commerce company after Alibaba Group, rose as much as 17.2 per cent in their US market debut yesterday, valuing the company at about US$30.43 billion. Its debut is being eyed for clues on how Wall Street will greet Alibaba’s IPO this year. The shares hit a high of US$22.26 on the Nasdaq. Reuters

Sunac pays HK$6.3b for stake in Greentown

Tianjin-based Hong Kong-listed property developer Sunac China Holdings has agreed to buy a 24.3 per cent stake of Hangzhou-based and Hong Kong-listed Greentown China Holdings from three ofGreentown’s major shareholders for HK$6.3 billion. Sunac said the deal will expand its market share as a developer. Eric Ng

Shares of solar power wafer maker surge

Shares of GCL-Poly Energy, the world’s largest producer of solar panel wafers, surged 6.7 per cent to HK$2.54 after its 68 per cent-held clean energy developer subsidiary GCL New Energy announced three agreements to co-develop 4.15 gigawatts of wind farms on the mainland between 2014 and 2016. Eric Ng