JD's $4.24 billion spin-off business is set to stir up the Hong Kong IPO craze.

In the final trading session on Wednesday, JD.com fell by 0.7%. JD Industrial, the industrial supply chain service provider spun off from JD Group, officially launched its IPO on Wednesday, planning to issue 210 million shares priced at 12.7 to 15.5 Hong Kong dollars per share. It is expected to raise up to 3.27 billion Hong Kong dollars, and is scheduled to be listed on the Hong Kong Stock Exchange on December 11.