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SHANGHAI, China, Feb. 25, 2022 (GLOBE NEWSWIRE) — JD.com, Inc. (“JD.com”) (Nasdaq: JD; HKEx: 9618), a leading supply chain-based technology and service provider, and Dada Nexus Limited (“Dada”) (Nasdaq: Dada), China’s leading local on-demand delivery and retail platform, today jointly announced that JD.com’s investment in Dada has obtained all the requisite regulatory approvals. It is currently expected that this transaction will close by end of February 2022. Upon the closing of this transaction, Dada will issue to JD.com certain number of ordinary shares of Dada in consideration for US$546 million in cash and certain strategic resources from JD.com. JD.com will hold, taking into account its existing shareholding, approximately 52% of Dada’s issued and outstanding shares and expects to consolidate the financial results of Dada into its consolidated financial statements. Mr. Jun Yang will resign from his position as a director of the board of directors of Dada, effective upon closing of the transaction.
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