JD.com Prices At $19, Higher Than Its Initially Proposed Range

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Weibo Drops 5% After Reporting In-Line Q1 Revenues Of $67.5M, Better-Than-Expected $0.03 Loss Per Share

JD.com, fresh off rumors that its IPO is massively oversubscribed, priced at $19 per share, higher than its initially proposed range of $16 to $18 per share. The pricing indicates market appetite for shares in the Chinese company that is analogous to Amazon.

As the Wall Street Journal notes, Amazon is down steeply so far this calendar year. The JD.com pricing comes right after Weibo reported its first quarter financial performance, which slightly beat expectations. That firm is off 8 percent in after-hours trading due to lower-than-expected forward guidance.

JD.com will commence trading tomorrow morning under the ticker symbol “JD.”

In 2013, JD.com had revenue of $11.45 billion, a net loss of $8 million, and a net loss attributable to its shareholders due to preferred stock costs of $410 million. That was its smallest net loss on a per-share basis in several years.

On a non-GAAP basis, JD.com had adjusted income of $36 million in calendar 2013, and free cash flow — again, non-GAAP — of $376 million.

We’ll have more in the morning when the stock starts to trade. A weak offering could harm the current IPO windows, and especially slow Alibaba’s impending IPO.

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