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Walmart Sells 144.5M JD.com Shares for $3.6B at 11% Discount
Aug 21, 2024, 09:11 AM
Walmart has sold its entire stake in JD.com, a leading Chinese e-commerce firm, for approximately $3.6 billion. The sale involved 144.5 million shares at a price of $24.95 per share, within a range of $24.85 to $25.85, representing an 11% discount to JD.com's closing price prior to the transaction. This move, executed on August 20, 2024, marks the end of Walmart's eight-year investment in JD.com, during which it was the largest shareholder with a nearly 10% stake. The decision to divest is part of Walmart's strategy to focus on its own operations in China, particularly its Sam's Club business. Following the announcement, JD.com's shares fell significantly, reflecting investor concerns over the company's future without Walmart's backing.
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