Leading tech giant Google, an arm of Alphabet Inc, announced that it will invest half a billion dollars in JD.com, which is China’s second largest e-commerce player.
Google will invest $550 million in cash into JD.com as a part of a strategic deal, according to the companies, which both issued a statement. In exchange of the investment, Google will be receiving over 27 million newly-issued JD.com Class A ordinary shares, coming at an issue price of $20.29 per share.
That figure is equal to $40.58 per American depository share based on the volume-weighted average trading price across the preceding 10 trading days. JD.com listed American depository shares in its group company on the Nasdaq in 2014.