Walmart Offloads JD.com Stake for $3.6 Billion
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Dow Jones
By Rebecca Feng
Walmart has sold its stake in JD.com, ending an eight-year investment in the Chinese e-commerce company.
The U.S. retailer sold 144.5 million American depositary receipts in JD.com at $24.95 apiece, a person familiar with the matter said Wednesday. The price represents an 11.5% discount to where JD.com's ADRs closed Tuesday, and was at the lower end of an earlier price-guidance range.
Walmart said earlier that the planned disposal would allow it to "focus on our strong China operations for Walmart China and Sam's Club, and deploy capital toward other priorities."
Write to Rebecca Feng at rebecca.feng@wsj.com
(END) Dow Jones Newswires
August 21, 2024 05:54 ET (09:54 GMT)
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