Walmart plans to sell $3.74 billion worth of JD.com shares
2024-08-20 22:03:21
On August 21, foreign media reported that Walmart general merchandise (WMT. N) plans to sell JD.com (JD. O) shares at a price of $24.85 to $25.85 per share, citing people familiar with the matter. Walmart is seeking to sell 144.50 million JD.com shares, sources said, and Walmart can raise $3.74 billion at the highest asking price. Walmart is the largest shareholder of JD.com, data show. JD.com (JD. O) U.S. shares closed at $28.19 per share on Tuesday, down about 10 percent in after-hours trading. Neither company commented on the matter. Morgan Stanley is the broker-dealer for the offering, sources said.
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