JD.com restructures in advance of IPO

JD.com Inc, China's second-largest e-commerce company, will be split into four different business units, a move that not only paves the way for its upcoming initial public offering in the United States but also will give the businesses room to grow.

The Beijing-based company, which filed in late January for the IPO to raise $1.5 billion, confirmed on Wednesday that JD will be divided into two groups, a subsidiary and a business division.

The restructuring will allow the company to have an e-commerce group, a finance group, a subsidiary - paipai.com - and an overseas business division, according to a statement from JD.