Firm to raise $2 billion for logistics unit

China's second-biggest e-commerce firm JD has kicked off a fundraising round at its logistics unit with a target of at least $2 billion, and eventually plans to list the business overseas, people with direct knowledge of the matter said.

JD, which only trails Alibaba Group Holding Ltd in China's e-commerce market, has invited a select group of investors to join the funding round that values its logistics business, JD Logistics, at around $10 billion, two of the people told Reuters.

The move comes as China's major e-commerce companies are looking to bulk up their logistics businesses to support their global expansion ambitions and boost revenues by offering services to third-party entities.