Ever-ambitious Chinese tech giant JD.com (JD -0.54%) is planning another spin-off of a large business unit. In a regulatory document filed on Tuesday, the company revealed that it has applied to float shares of its JD Logistics arm on the Hong Kong Stock Exchange. In the likely event that this is accepted, JD Logistics' stock would list on the Main Board of that exchange.

Additionally, JD.com will float JD Logistics shares on another exchange or exchanges in what it is calling a "global offering." It did not say where this listing or listings would occur. It also did not specify how many shares would be sold either in Hong Kong or in total, nor provide a figure for how much capital it aims to raise.

Worker pulling a box in a factory.

Image source: Getty Images.

At the moment, JD.com holds just over 79% of JD Logistics, which was incorporated in 2012. The former quoted research that showed JD Logistics holds the No. 1 position in terms of revenue on the integrated supply chain service market in China. As of the end of September 2020, the unit operated over 800 warehouses throughout the country.

This won't be the first time JD.com is tapping Hong Kong, Asia's No. 3 stock exchange, for capital. Last December, in a similar move, it floated its JD Health subsidiary in the enclave. The massive issue, which raised the equivalent of around $3.5 billion, was the largest debut on that market in 2020.

Logistics is a hot segment around the world, as the coronavirus pandemic has dramatically increased global demand for delivery services due to mandatory and voluntary stay-in-place measures. It's very possible that JD Logistics will make as much of a splash, if not more so, than JD Health did on its listing.