Walmart Plans to Sell up to $3.74 Billion Worth of JD.com Stake

Walmart Inc. Looks to Raise Billions by Selling Stake in JD.com

In a strategic move to raise up to $3.74 billion, Walmart Inc. is planning to sell its stake in Chinese e-commerce giant JD.com Inc. The US retail giant aims to offer 144.5 million shares in a price range between $24.85 to $25.85, according to sources familiar with the matter. The offering is being brokered by Morgan Stanley.

JD.com’s shares closed at $28.19 on Tuesday and experienced a 10% drop in after-market trading. The shares being offered by Walmart come at a discount of up to 11.8% compared to Tuesday’s closing price, based on calculations by Bloomberg.

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Walmart is currently the largest shareholder of JD.com, following its acquisition of a 5% stake in the company back in 2016. This partnership also involved JD.com taking over Walmart’s Yihaodian online marketplace, which targeted higher-end female shoppers in major Chinese cities. Later that same year, Walmart increased its holdings in JD.com to 10.8%.

This share sale marks the potential end of a significant partnership between Walmart and JD.com, signaling a shift in their business relationship. Stay tuned for more updates on this developing story.

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