JD.com to raise approximately $1B for finance subsidiary
January 19, 2016
Chinese online direct sales company JD.com (NASDAQ: JD) has signed a definitive share subscription agreement for a RMB6.65 billion ($1 billion) financing for its JD Finance subsidiary, a provider of online consumer financial solutions. Lead investors of the round include Sequoia Capital China, China Harvest Investments and China Taiping Insurance. The investment, which is expected to close in the first half of 2016, values JD Finance at about RMB46.65 billion.