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

This post was originally published on this site

The deal follows Tencent’s sale of a $16.4 billion stake in JD.com to Walmart (NYSE:WMT) 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.