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China : TENCENT buys 15% stake in JD.COM
Publish Date : 11-Mar-2014
The Board of Tencent Holdings Limited declared a share subscription contract with JD.COM, INC. The organisation has decided to acquire through from JD, 351,678,637 ordinary shares, representing 15% of the outstanding JD ordinary shares on a Pre-IPO basis immediately after the completion of the pre-IPO subscription.
In exchange for the Pre-IPO subscription, the organisation decided to pay, or cause one of its subsidiaries to pay, $214.66 million to JD at the SSA closing.
Tencent Holdings, JD also entered into the IPO Share Subscription Agreement, under which the company agreed to subscribe concurrently at the time of the IPO for such number of JD ordinary shares representing 5% of the outstanding JD ordinary shares on a Post-IPO basis immediately after the consummation of the IPO.
Tencent Holdings and JD entered into the Call Option Agreement, under which the company granted the Call Option for JD to purchase the Retained Shanghai Icson Interests subject to compliance with all applicable laws.
The organisations also entered a Strategic Cooperation Agreement, which sets out the overall framework for strategic collaboration between Tencent Holdings and JD in e-Commerce Business. Through the strategic investment in JD, the company partners up with JD to jointly offer best-in-class e-Commerce services to users and clients.
