JD.Com ADRs Rise After Announcing Share Buyback of Up to $5 Billion
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Dow Jones
By Michael Susin
JD.com's American depositary shares rose on Tuesday after the company said it will buy up to $5 billion worth of its shares and American depositary receipts.
ADRs in premarket trading were up 4.8% to $27.05.
The e-commerce company headquartered in Beijing said it approved the new share repurchase program with effect from September until the end of August 2027.
The buyback program comes a week after U.S. retailer Walmart sold its stake in JD.com, representing 144.5 million ADR, ending an eight-year investment in the Chinese e-commerce company.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
August 27, 2024 06:38 ET (10:38 GMT)
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