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China's JD Logistics set to raise $3.2 billion in Hong Kong IPO

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9618-HKWorkers from Chinese e-commerce giant prepare parcels for delivery at the company’s main logistics hub for Singles Day on November 11, 2020 in Beijing, China.Kevin Frayer | Getty Images News | Getty Images

GUANGZHOU, China — The logistics arm of Chinese e-commerce giant is set to price its Hong Kong initial public offering at 40.36 Hong Kong dollars, near the bottom of the range, a person with knowledge of the matter told CNBC.

JD Logistics previously said its IPO on the Hong Kong Stock Exchange would be priced between 39.36 Hong Kong dollars and 43.36 Hong Kong dollars.

The company will issue 609.2 million shares. At 40.36 Hong Kong dollars each, the company would raise 24.6 billion Hong Kong dollars ($3.2 billion).

The pricing is subject to confirmation, said the person, who did not wish to be identified as they were not authorized to speak publicly.

JD declined to comment when contacted by CNBC., a rival to Alibaba in China, has been busy in the capital markets., which is listed in the U.S., carried out a $3.87 billion secondary listing in Hong Kong last June. The company then listed its health-care unit in Hong Kong in December.

However, JD withdrew its