(Telecompaper) Chinese e-commerce group JD.com raised in total USD 1.78 billion from its initial public offering of shares on the Nasdaq market in the US. The 93.7 million American Depositary Shares, each representing two Class A ordinary shares of the company, was priced at USD 19 per ADS, higher than the earlier indicated range of USD 16-18. The ADS will begin trading on 22 May. JD.com sold 69 million new shares, and existing shareholders sold 24.7 million. The underwriters have been granted a 30-day option to purchase up to an additional 14 million ADS from JD.com. JD.com will receive initial proceeds of USD 1.31 billion from its share of the offering. The company is also raising USD 1.31 billion from the issue of another 138 million Class A shares to Tencent at the IPO price.