JD.com (HKG:9618) submitted a preliminary, non-binding proposal to acquire all outstanding shares of Dada Nexus, offering $0.50 per ordinary share and $2.00 American Depositary Share (ADS) in cash, according to a Friday filing with the Hong Kong bourse.
JD.com currently holds a 63.4% stake in Dada Nexus through its subsidiaries. The proposal is subject to negotiations and approvals.
If the deal is completed, Dada Nexus may be delisted from Nasdaq.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.