Walmart seeks to raise up to $3.74 billion in sale of JD. com stake: report

US retailer Walmart is seeking to raise up to $3.74 billion by selling its stake in Chinese e-commerce firm JD.com, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Walmart is offering 144.5 million shares in the price range of $24.85 to $25.85, the report said, adding that Morgan Stanley is the broker-dealer of the offering.

Walmart, JD. com and Morgan Stanley did not immediately respond to Reuters' requests for comment.


Walmart is the largest shareholder of JD. com and owns a 5.19% stake in the e-commerce company, according to LSEG data.

The partnership between the two companies started in 2016, when Walmart sold its Chinese online grocery store, Yihaodian, in return for a 5% stake in JD. com.