Skip to content
Subscriber Only

JD Health Jumps 56% in Hong Kong Debut Amid Soaring Demand

  • Beijing-based company targets 100 million users by next year
  • Online healthcare is immune to antitrust clampdown, CEO says
Video player cover image
Watch: JD Health CEO Xin Lijun discusses the listing in an exclusive interview with Bloomberg's Tom Mackenzie.(Source: Bloomberg)
Updated on

JD Health International Inc. surged in the largest stock market debut by a health-care firm in Asia as investors look past increasing regulatory scrutiny to bet that demand for online medical services will continue to grow in post-Covid China.

The stock jumped 56% to HK$110 at the close of trading in Hong Kong Tuesday after pricing at the high end of the marketed range in its $3.5 billion IPO. The first-day gains lifted Beijing-based JD Health to a market value of roughly $44 billion, surpassing that of rival Alibaba Health Information Technology Ltd. The offering is the largest of this year’s first-time share sales in Hong Kong -- only a second listing by JD Health’s parent company in June was bigger.