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

JD.com to pay $220 million in stock to investor Tencent
JD.com to pay $220 million in stock to investor Tencent Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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-China's JD.Com Inc said on Wednesday 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.

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