Tencent Holdings Ltd. and JD.com Inc. announced Monday that they will invest $863 million in Vipshop Holdings Ltd. (VIPS). Tencent will acquire a 7 percent stake in the company, while JD.com will increase its stake from 2.5 percent to 5.5 percent.
Vipshop has gapped open sharply higher Monday morning and is now up 3.93 at $12.37 on above average volume. The stock has leaped to a 4-month high.
by RTT Staff Writer
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