JD Finance fundraising a precursor for IPO

The reported $2 billion fundraising by JD Finance, the financial arm of China's second-largest e-commerce player JD, could pave the way for the subsidiary's eventual listing, according to experts.

JD Finance is looking to raise capital that could see its value rise to more than $20 billion, online news portal jiemian.com reported. Investors include China International Capital Corp Ltd and State-owned China National Cereals, Oils and Foodstuffs Corp.

The subsidiary declined to comment on the matter.