Walmart’s $3.7 Billion JD.com Stake Sale Fuels China Tech Slump

Walmart Inc. is seeking to raise as much as $3.74 billion by selling its stake in Chinese e-commerce firm JD.com Inc., winding down an eight-year partnership that appears to be paying diminishing returns amid a challenging landscape for Chinese tech giants.

The US retailer is offering 144.5 million shares in a $24.85 to $25.85 price range, people familiar with the matter said. Morgan Stanley is the broker-dealer handling the offering, they added, asking not to be identified because the information is private. That’s a discount of as much as 11.8% to Tuesday’s close in the US, according to Bloomberg ...