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Tag: American Depositary Shares

Walmart sells $3.74 billion stake in JD.com to focus on its own China business

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Walmart sells .74 billion stake in JD.com to focus on its own China business

By Kane Wu and Summer Zhen HONG KONG (Reuters) – Walmart, the largest shareholder in Chinese e-commerce company JD.com, has sold its entire stake, a person familiar with the matter said, ending an eight-year investment to focus on its own businesses in China. A placement of Walmart shares is fully subscribed, the person said, and […]

Walmart plans to raise up to $3.74 billion from the sale of its JD.com stake, according to a term sheet

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Walmart plans to raise up to .74 billion from the sale of its JD.com stake, according to a term sheet

(Reuters) – U.S. retailer Walmart plans to raise up to $3.74 billion by selling its stake in Chinese e-commerce company JD.com, according to a letter of intent seen by Reuters on Wednesday. According to the term sheet, Walmart is offering 144.5 million American Depositary Shares at a price range of $24.85 to $25.85, and Morgan […]