BEIJING, May 12 (TMTPOST)— JD Logistics plans to kick on shares sale between May 17 to 21 and list on the Hong Kong Stock Exchange on May 28, Tencent News learned on Wednesday. The logistics unit of Chinese e-commerce giant JD.com wants to sell 10% of stakes and its valuation would be about US$35 billion (RMB225.3 billion), according to the sources. Some of fund managers told Tencent News that the Hong Kong initial public offering (IPO) market has been subdued since listing of TikTok's Chinese rival Kuaishou in February and many investors expect JD Logistics can revive the market. JD Logistics was approved through the regulatory review last month and reported to seek raise US$3 billion to $4 billion, which could create the second largest IPO in Hong Kong this year that is second only to Kuaishou’s US$6.2 billion offering. As of Wednesday, the business has conducted roadshow to analysts for ten days.