Walmart’s $3.6 Billion JD.com Sale Fuels China Tech Slump

Posted under: Fintech
Date: 2024-08-21
Walmart’s $3.6 Billion JD.com Sale Fuels China Tech Slump

An eight-year partnership seems to generate declining rewards amid a difficult environment for JD.com Inc. after Walmart Inc. raised approximately $3.6 billion by selling its interest in the Chinese e-commerce company. However, those familiar with the situation claim that the information is confidential. According to sources, the US retailer sold 144.5 million shares for $24.95 each. Bloomberg calculations show that's close to the lower end of an indicative $24.85 to $25.85 price range, or an 11% discount to Tuesday's US close.

Read more at: finance.yahoo.com