(Yicai) Aug. 21 — Shares of JD.Com plunged after U.S. retail giant Walmart sold all its stakes in the Chinese e-commerce giant for about $3.6 billion. JD.Com (HKG: 9618) closed 8.7 percent lower at HKD 102.40 (USD 13.14) per share in Hong Kong today, after falling as much as 12 percent earlier. The New York-listed […]
JD.com’s Hong KongThe listed shares fell 10 percent to HK$101.10 as of 2:23 p.m. local time on Wednesday, triggering a broader sell-off in Chinese e-commerce and technology stocks. Walmart is refining its strategy in the world’s second-largest economy, where its long-time e-commerce partner is struggling as are major competitors Alibaba Group Holding And PDD investmentsOwner […]
Walmart is the largest shareholder in JD.com and owns a 5.19 percent stake in the e-commerce company, according to LSEG data | (Photo: Reuters) 2 minutes reading time Last updated: August 21, 2024 | 9:19 a.m. IS US retailer Walmart plans to raise up to $3.74 billion by selling its stake in Chinese e-commerce company […]
21 August 2024, 08:08 IST The proposed deal comes at a time when Walmart is refining its strategy in the world’s second-largest economy, where retail is dominated by online platforms such as Alibaba. Walmart Inc. is seeking to raise up to $3.74 billion by selling its stake in Chinese e-commerce company JD.com Inc., ending an […]
Richard Liu, founder and CEO of JD.com, at a press conference in Beijing in 2018. VCG/VCG via Getty Images Walmart Inc. has announced that it intends to sell its entire stake in Chinese e-commerce giant JD.com. The US retailer is thus adjusting its strategy in the world’s second-largest economy. Shares of fellow listed JD.com plunged […]
