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Walmart seeks to raise up to $3.74 billion in sale of JD. com stake: report

Economic Times · 7m

Walmart is looking to sell its stake in Chinese e-commerce company JD.com for up to $3.74 billion. The US retailer is offering 144.5 million shares in the price range of $24.85 to $25.85. Morgan Stanley is the broker-dealer of the offering. Walmart currently owns a 5.19% stake in JD.com, making it the largest shareholder. The partnership between the two companies began in 2016 when Walmart sold its Chinese online grocery store and received a 5% stake in JD.com in return.