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

06/29/2022

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2022.06.29 21:01

JD.com to issue shares worth $220 million to Tencent for WeChat access
FILE PHOTO: JD.com sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song

(Reuters) -China’s JD (NASDAQ:JD).Com Inc said on Wednesday it would issue shares worth $220 million to investor Tencent Holdings (OTC:TCEHY) 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 (NYSE:WMT) 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.

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06/29/2022

Less than a minute