Walmart sold its entire stake in Chinese JD.com for $3.6 billion
By Alimat Aliyeva
Walmart Inc. has sold all of its shares in the Chinese online retailer JD.com, Azernews reports.
As of the end of March this year, the American company owned about 9.4% of the shares JD.com .
Documents for the Securities and Exchange Commission (SEC) released on Tuesday state that Walmart no longer owns shares in the Chinese company.
According to Bloomberg, Walmart has sold 144.5 million ADR JD.com at a price of $24.95 per paper, this is 11% lower than the value of securities at the market close on Tuesday. Thus, the American company received about $3.6 billion for its stake.
JD.com She announced that she had bought back her own shares for $390 million.
Walmart acquired shares for the first time JD.com In 2016, he simultaneously sold his Yihaodian e-commerce platform to a Chinese company. Later, Walmart continued to invest in JD.com and I have almost doubled my share in it.
"The decision to sell shares will allow us to focus on the operations of Walmart China and Sam's Club, as well as direct capital to other priorities," the American company said in a statement.
Promotions JD.com they lost 10.1% in price during trading in Hong Kong on Wednesday. Since the beginning of this year, their cost has decreased by 10%.
---
Follow us on Twitter @AzerNewsAz