BEIJING: China Shanghai Stock Exchange said on Friday it had terminated the planned initial offering (IPO) in JD.Com-affiliated JD Digits, which had aimed to list on the Nasdaq-style STAR Market.

The stock exchange said in a statement that it had terminated the listing review after JD Digits on Tuesday submitted a request to withdraw its public listing application.

JD.Com has said it plans to transfer JD Cloud and artificial intelligence business to its financial technology unit, JD Digits, for a combined valuation of 15.7 bln yuan ($2.40 bln).

JD.Com did not immediately respond to a request for comment.