JD.com announces JD Logistics' proposed financing to raise $400M
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JD.com (NASDAQ:JD) trades 3.6% down premarket after it announced that JD Logistics (OTCPK:JDLGF) plans to raise ~$400M through stock placement.
It also plans to enter into a subscription agreement with JD Logistics concurrently to subscribe for new shares to be issued by JD Logistics, at the same per share price for the JDL Placement, for a total purchase price of up to ~$700M in cash.

The JDL Placement and JD Subscription are not inter-conditional.
In mid-March, the company acquired Chinese logistics firm Deppon Logistics.
SA Contributor Jonathan Weber recently wrote that JD.com is slumping to new lows despite strong results.