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China's JD.com to spin off industrial, property units in $1 bn Hong Kong floats

News Snapshot:

March 30 (Reuters) – E-commerce firm JD.com Inc (9618.HK) is planning to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each, two people with direct knowledge said on Friday. The plan marks the latest revamp in the Chinese technology sector after a sweeping regulatory crackdown. In a filing on Thurday, JD.com said it would continue to hold a stake of more than 50% in the units, JD Industrials and JD Property, upon completion of the proposed spin-off. JD.com said the size and structure of its units' initial…

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