JD.com (JD) Stock Higher Today After Pricing Secondary Offering of its ADSs

NEW YORK (TheStreet) -- Shares of JD.com (JD) are up 3.99% to $24.86 on heavy trading volume after the Chinese online direct sales company announced that the secondary offering of an aggregate of 26,003,171 American depositary shares (ADS), each representing two Class A ordinary shares of the company, by certain selling shareholders was priced $23.80 per ADS shares.

The selling shareholders expect to receive gross proceeds of approximately $619 million from the offering at closing.

Existing shareholders, including a company wholly owned by Tencent Holdings Limited  (TCEHY) and an affiliate of Tiger Global entities purchased $150 million and $47.6 million of ADS shares, respectively.

About 7.18 million shares changed hands by 11 a.m. in New York, compared to the average of 5.17 million.

JD Chart JD data by YCharts

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