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Walmart to Sell Stake in JD.com for up to $3.74B

By:Jack

TapTechNews August 21, according to a report by Bloomberg on Tuesday citing people familiar with the matter, Walmart is seeking to raise up to $3.74 billion (TapTechNews note: currently about 26.697 billion yuan) by selling its stake in Chinese e-commerce company JD.com.

People familiar with the matter disclosed that Walmart will sell 144.5 million shares with a price range of $24.85 to $25.85. Due to information confidentiality, the sources requested anonymity. They added that Morgan Stanley is the broker-dealer for this offering.

Affected by this news, JD.com dropped significantly by 9% in after-hours trading. Representatives of Walmart, JD.com and Morgan Stanley did not immediately respond to requests for comment.

Walmart to Sell Stake in JD.com for up to .74B_0

Walmart obtained these shares when it sold its Chinese e-commerce business No. 1 Store in 2016 in exchange for a 5% stake in JD.com. There is currently no SEC filing confirming this sale. This share sale marks the end of the partnership that began in 2016.

Walmart JD.com Share Sale Cooperation End

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