JD Health International, JD.com's subsidiary, has raised $3.5 billion in its Hong Kong initial public offering (IPO), CNBC reported on Wednesday.

According to the network's sources, JD Health issued 381.9 million stocks priced at $9.11 per share, and is set to start trading on December 8. JD.com owns about 78% of the company, which focuses primarily on providing online healthcare services such as online pharmacy and consultations.

JD Health's financial results previously revealed that its revenue rose to $1.34 billion in the six months ending June 30.