JD.com, the Amazon.com-like e-commerce rival to China's Alibaba, fielded overwhelming investor demand for its US$1.8bn Nasdaq IPO in a still-tough market for technology listings. JD.com, which one banker described as an "ankle-biter" relative to the expected US$15bn-$20bn IPO of Alibaba later this year, finished its first session on Thursday at US$20.90 for a day-one gain of 10%. The float ranks as the largest Chinese IPO on a US stock exchange. It was also Nasdaq's biggest IPO since the Facebook debacle in 2012.
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