JD.com prices up IPO to raise $1.78b on Nasdaq debut

Chinese e-commerce company JD.com Inc has priced its initial public offering in the United States above the marketing range to raise $1.78 billion, suggesting strong demand for Chinese e-commerce companies as larger rival Alibaba Group Holding Inc prepares its own highly anticipated US debut.

Loss-making JD.com, backed by Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding Co, is set to debut on the Nasdaq stock exchange on Thursday in what may be the biggest listing of a Chinese company in the US.

China's No 2 e-commerce company priced its American Depositary Shares at $19 each, above the $16-$18 per ADS indicated range, valuing the company at more than $25 billion, according to its underwriters.