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Walmart to Sell 144.5M JD.com Shares for Up to $3.74B in $24.85-$25.85 Range
Aug 20, 2024, 10:38 PM
Walmart is reportedly seeking to divest its entire stake in the Chinese e-commerce company JD.com. The U.S.-based retailer is offering to sell 144.5 million shares in a price range of $24.85 to $25.85 per share, aiming to raise up to $3.74 billion. This potential sale marks the end of a partnership that began in 2016. The news has led to a significant drop in JD.com's stock price, which fell nearly 10% in after-hours trading, with shares trading between $24.85 and $25.85. Walmart's stake in JD.com represents approximately 9.3% of the company.
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