Similar Stories to Jd.com Plummets After Walmart Sells Its $3.6 Billion Stake In The Chinese Retailer on Bing News

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:
  • Walmart sells $3.74 billion JD.com stake to focus on its own China operations
    The U.S. retailer owned a 5.19% stake in JD.com worth about $2 billion as of March 31, per LSEG data. The partnership between the companies began in 2016 when Walmart sold its Chinese online grocery ...
    08/22/2024 - 10:37 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
  • 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