August 16, 2019 / 3:25 PM / 5 months ago JV in talks to raise $500 million in U.S. IPO: The Information

FILE PHOTO: A sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

(Reuters) - China’s e-commerce company is in talks with bankers to list shares of its online grocery and delivery joint venture in the United States in May and is seeking to raise $500 million, The Information reported on Friday.

The joint venture, Dada-JD Daojia, last year raised $500 million from Walmart Inc and JD.

The talks are still in early stages, and the amount the company hopes to raise as well as the timing of the stock market offering could change, the report said, citing two people familiar with the matter. (

JD and Walmart did not immediately respond to requests for comment.

JD reported better-than-expected second-quarter revenue on Tuesday, boosted by stronger sales in its online retail business.

Reporting by Neha Malara in Bengaluru; Editing by Saumyadeb Chakrabarty

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