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

JD.com to pay $220 million in stock to investor Tencent - Copyright Thomson Reuters 2022

By Reuters

Published on 29/06/2022 - 13:20•Updated 13:50

-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.