Tencent Gives out JD shares

Tencent is handing out a Special Dividend worth 16 billion in JD shares. Previously Tencent held a 1/5 stake in JD of about 17%, post distribution it will come down to about 2%. This move will make JD more independent as it will not fight alone against Alibaba and PDD, thus the fall of 8% seen in JD stock price in the HK market. (Tencent is up 5% in HK …