Tencent to transfer $16.4 billion JD.com stake to shareholders By Reuters

Gaming and social media giant Tencent will distribute most of its JD (NASDAQ:).com stake worth HK$127.69 billion ($16.37 billion) to its shareholders, losing its title as the e-commerce firm’s top shareholder.

Tencent said on Thursday it was the right time to transfer its stake given that JD.com has reached a stage it can self-finance its own growth. The owner of WeChat will see its stake fall to 2.3% from around 17%.

JD.com, in a separate statement, said it would continue to work with Tencent, including on their strategic partnership agreement.

Eligible Tencent shareholders will be entitled to one share of JD.com for every 21 shares they hold and in total Tencent will distribute 457.3 million shares.

After the transfer, Walmart (NYSE:) will become JD.com’s largest shareholder, according to Refinitiv ownership data.

($1 = 7.7996 Hong Kong dollars)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data. 

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.