Rumor: JD Finance to Invest USD 1.5 Bln in Securites Firm 'First Capital'

Sina Tech, 9/15/17

Chinese B2C e-commerce platform JD.com's (Nasdaq: JD) online financing and retail investment platform JD Finance is reportedly in negotiations to invest approximately USD 1.5 bln to acquire a 24% stake in Shenzhen-based securities firm First Capital Securities (FCSC) (002797.SZ), according to an inside source.

JD Finance would purchase the stakes from FCSC's first and third largest stakeholders, Huaxi Xinyu Investment and Nenking Holdings Group, who have stakes of 15.4% and 8.4%, respectively.

The transaction has not been finalized because the parties have yet to reach consensus on the valuation, according to the source.

Keywords: First Capital Securities 002797.SZ Huaxi Xinyu Nenking Internet JD.com JD JD Finance funding M&A financial services

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