Internet giant Tencent Holdings Ltd. is planning to distribute more than $16 billion worth of shares in JD.com Inc. to its shareholders, which will result in it no longer being the Chinese e-commerce firm’s biggest shareholder. From March on, Tencent will give out around 457 million Class A shares in JD.com as a special interim dividend, representing about 86.4% of its total stake and 14.7% of the online retailer’s total issued shares, according to a filing to the Hong Kong Stock Exchange on Thursday. At Wednesday’s close, that many shares were worth HK$127.7 billion ($16.4 billion). Tencent, which controls about 17% of JD.com, will hold roughly 2.3% of the e-commerce company’s shares after the handout, JD.com said in a separate statement. As part of the deal, Tencent President Martin Lau will exit JD.com’s board effective Thursday. Source: https://www.caixinglobal.com/2021-12-23/tencent-to-hand-16-billion-stake-in-jdcom-to-its-shareholders-101821435.html submitted by /u/chinese__investor [link] [comments] https://www.reddit.com/r/stocks/comments/rnd72l/tencent_to_hand_16_billion_stake_in_jdcom_to_its/
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