Aug 28, 2024 03:44 AM
BUSINESS
JD.com Unveils $5 Billion Share Buyback to Reassure Investors
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JD’s latest stock buyback plan emerged a week after Walmart Inc. said it had sold its stake in the e-commerce firm
(Bloomberg) — JD.com Inc. plans to buy back as much as $5 billion of its shares, moving to appease investors worried about a worsening Chinese consumer downturn.
The company on Tuesday outlined plans to buy back its own stock from September to August 2027. Its shares climbed more than 4% in pre-market trading in New York
JD’s latest stock buyback plan emerged a week after Walmart Inc. said it had sold its stake in the e-commerce firm, stoking concerns about the outlook for consumer spending in the world’s No. 2 economy.
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