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

FILE PHOTO: A sign of JD.com is seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. REUTERS/Aly Song

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.

Reuters

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