JD.com Inc. is boosting its share buyback plan by 50%, the latest in a slew of tech firms to repurchase stock after China’s regulatory crackdown over the past year sparked a selloff.
The country’s No. 2 online retailer will set aside $3 billion for the buyback program, which will be extended until March 2024, it said in a filing Wednesday. That’s up from the $2 billion it had targeted under the plan originally adopted in March 2020. JD fell as much as 2.1% on Wednesday as Chinese technology shares in Hong Kong extended their declines.
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December 29, 2021 at 10:36AM
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JD Boosts Share Buyback as China Clampdown Weighs on Tech - Bloomberg
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