The moves ignited hopes that Beijing — keen to resuscitate the world’s second-largest economy — is unfettering the private sector, allowing its biggest names to again pursue business and fundraising.
Alibaba Group Holding and JD.com have begun preparations for a trio of the year’s biggest Chinese debuts, heralding a wave of initial public offerings that promise to breathe new life into the struggling technology industry and Hong Kong’s stock market.
Cainiao Network Technology, Alibaba’s logistics arm, has kicked off discussions with banks for what may become the first of several IPOs by units of the e-commerce giant. On Thursday, two JD subsidiaries filed for first-time share sales in the city. Those three listings could raise about US$5 billion ($6.65 billion) between them, people familiar with the matter said.
