CICC, COFCO Said To Invest $2B In JD Finance At $26B Valuation

Chinese investment banking firm China International Capital Corporation Limited (CICC) and China National Cereals, Oils and Foodstuffs Corporation (COFCO) are in talks to lead a RMB13 billion (US$2 billion) round in Chinese e-commerce giant Inc.’s financial services spin-out, JD Finance, according to China Securities Journal, a Xinhua News Agency-controlled newspaper.

CICC, COFCO and did not immediately respond to China Money Network’s emails seeking comments.

The deal will be inked in the end of this month and the financing round will value JD Finance at RMB165 billion (US$26.1 billion) to RMB190 billion (US$30 billion), according to China Securities Journal citing sources familiar with the matter.

Read More – China Money Network

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