JD to issue shares worth $220M to Tencent

Wednesday, 29. June 2022 13:27

JD.com Inc. revealed on Wednesday that it will issue shares worth $220 million to Tencent Holdings Ltd. as a part of the three-year partnership deal between the companies. "Tencent will continue to offer [JD.com] prominent Level I and Level II access points on its Weixin platform to provide traffic support, and the two parties also intend to continue to cooperate in a number of areas including communications, technology services, marketing and advertising, and membership services, among others," JD.com specified in a statement.

Earlier this week, Naspers Limited's subsidiary Prosus N.V. announced it has sold its 4% stake in JD.com for about $3.67 billion. Prosus received the JD.com stake from Tencent in a separate deal in December 2021.

Naspers and Prosus, which owns around 30% of Tencent and is its largest shareholder, plan to sell "small numbers of ordinary shares in Tencent" to fund a repurchase program for their own shares.

Related Links: Prosus NVTencent Holdings Ltd.JD.com Inc.
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