Jd.com Plummets After Walmart Sells Its $3.6 Billion Stake In The Chinese Retailer

AP/Ng Han GuanJD.com shares fell 8% on Wednesday after Walmart sold its stake in the Chinese e-commerce company.Walmart sold 144.5 million shares for $3.6 billion, ending an eight-year partnership.Walmart aims to focus on growing its China operations, including Walmart Supercenter and Sam's Club.Shares of Chinese e-commerce retailer JD.com plunged as much as 8% on Wednesday after Walmart disclosed that it sold its stake in the company.Walmart sold 144.5 million shares of JD.com for $24.95 per share, representing a total sale of about $3.6 billion, according to a filing made with the SEC and a report from Bloomberg.The share sale price occurred at an 11% discount from JD.com's closing price on Tuesday.

BING NEWS:
  • China's JD.com announces $5 bln share buyback plan
    Aug 27 (Reuters) - JD.com (9618.HK), opens new tab said on Tuesday its board has approved a new $5 billion share repurchase program, effective September, allowing the Chinese e-commerce giant to ...
    08/27/2024 - 12:21 am | View Link
  • JD.com Stock Sinks as Walmart Sells Stake in China E-Commerce Firm
    Jaque Silva / SOPA Images / LightRocket via Getty Images U.S.-listed shares of JD.com tumbled Wednesday as Walmart confirmed that it sold its stake in the Chinese ... about $3.6 billion in ...
    08/21/2024 - 3:15 am | View Link
  • JD.com plummets after Walmart sells its $3.6 billion stake in the Chinese retailer
    Walmart acquired a 5% stake in JD.com in 2016 when it was seeking to level up its retail business in China. It eventually grew its stake to about 10%.
    08/21/2024 - 3:04 am | View Link
  • JD.com plummets after Walmart sells its $3.6 billion stake in the Chinese retailer
    Walmart sold 144.5 million shares for $3.6 billion ... Shares of Chinese e-commerce retailer JD.com plunged as much as 8% on Wednesday after Walmart disclosed that it sold its stake in the ...
    08/20/2024 - 11:04 pm | View Link
  • JD.com shares slide on report Walmart plans to sell $3.7bn stake; analysts comment
    Walmart Inc (NYSE:WMT) is seeking to raise about $3.74 billion by selling its stake in JD.com, Bloomberg reported on Tuesday. The U.S. firm is offering 144.5 million shares at a range of $24.85 to ...
    08/20/2024 - 10:35 pm | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News