China's JD.com to buy back $2 billion shares amid coronavirus fears

Send a link to a friend  Share

[March 17, 2020]  (Reuters) - China's e-commerce company JD.com Inc <JD.O> said on Tuesday it would buy back up to $2 billion of its shares as the coronavirus outbreak grows bigger.

 

JD said it expects to fund the buyback, which will take place over the next 24 months, with existing cash.

Last week, SoftBank Group Corp <9984.T> said it was repurchasing up to $4.8 billion of its shares after their recent slump.

Shares of JD were up more than 7% in premarket trading.

(Reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli)

[© 2020 Thomson Reuters. All rights reserved.]

Copyright 2020 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.

 

 

Back to top