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JD.com to issue shares worth $220 million to Tencent for WeChat access

The deal follows Tencent’s sale of a $16.4 billion stake in JD.com to Walmart Inc last year and extends an existing partnership with the WeChat owner.

June 29, 2022 / 05:33 PM IST
JD.com Inc current market cap is USD 182.10 billion (Image Source: Reuters)

JD.com Inc current market cap is USD 182.10 billion (Image Source: Reuters)

China’s JD.Com Inc said on June 29 it would issue shares worth $220 million to investor Tencent Holdings Inc over a three-year period to access certain services on the latter’s WeChat platform.

The deal follows Tencent’s sale of a $16.4 billion stake in JD.com to Walmart Inc last year and extends an existing partnership with the WeChat owner.

Tencent, which first invested in JD.com in 2014, owns 2.7% of outstanding Class A shares of the company as of March 25, according to a regulatory filing.
Reuters
first published: Jun 29, 2022 05:33 pm
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