JD.com intends to spin-off JD Property, JD Industrials

JD.com announced that it intends to spin-off JD Property and JD Industrials by way of separate listings on the Hong Kong Stock Exchange. The company submitted spin-off proposals to the Hong Kong Stock Exchange and the exchange confirmed JD may proceed with the proposed spin-offs. Upon completion of the spin-offs, the company will continue to indirectly hold more than 50% of the shareholdings in JD Property and JD Industrials, and therefore both will remain as a subsidiary of the company. Shares of JD.com are up 7% to $44.09 following the announcement.