Tencent Dividend JD.com will Give $16.4 Billion in Dividends to Shareholders

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Tencent Dividend JD.com will Give $16.4 Billion in Dividends to Shareholders: Tencent said Thursday that it is the right time to transfer its stake, as JD.com has reached a stage that can self-finance its growth. WeChat owner’s stake will drop from about 17% to 2.3%.

Chinese gaming and social media giant Tencent will distribute a majority stake in JD.com (9618.HK) worth HK$127.69 billion ($16.37 billion) in dividends to its shareholders, who will no longer be the e-commerce company’s largest shareholder. .

Tencent said Thursday it was a good time to transfer its stake, as JD.com has reached the point where it can fund its growth on its own. Now this will reduce the WeChat owner’s share from about 17% to 2.3%.

The move comes at a time when Beijing is leading a broader regulatory campaign against technology companies aimed at achieving growth ambitions abroad and concentrating domestic market power.

Tencent Dividend JD.com will Give $16.4 Billion in Dividends to  Shareholders
Tencent Dividend JD.com will Give $16.4 Billion in Dividends to Shareholders

Tencent Dividend JD.com will Give $16.4 Billion in Dividends to Shareholders

“The Company and JD.com will continue to maintain a mutually beneficial working relationship, including through their ongoing strategic partnership agreement,” Tencent said in a statement.

Martin Lau, CEO and Chairman of Tencent, will step down as JD.com Director on December 23.

JD.com said in a separate announcement that it will continue to work with Tencent, including through their strategic partnership agreement.

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“This appears to be a continuation of the concept of removing walled gardens and increasing competition between tech giants by undermining partnerships, exclusivity and other arrangements,” said Mio Kato, Lightstream Research Analyst, who posts on SmartKarma. JD.com Share Transfer.

“This could have implications for things like the payments market where Tencent’s relationships with Pinduoduo and JD have helped maintain some competition with Alipay,” he said.

JD.com shares tumbled 11.2% in early Hong Kong trade Thursday, the biggest daily percentage drop since it opened in the city in June 2020, in part before dropping 7% by 0450 GMT. Shares of Tencent, the most valuable listed company in Asia, gained 4%. 3rabinews.com

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