JD.com totaled HK $ 394.4 million.
According to Bloomberg ’s early morning news on April 24, Kingdee International (00268.HK) was sold by JD ’s subsidiary JD Oriental Investment Ltd. for 34 million shares at HK $ 11.60 per share. Bookkeeping line.
Hong Kong stocks closed today, and Kingdee International ’s stock price fell 6.15% to HK $ 11.6, the largest decline since March 17.
In fact, since the opening of 2020, Kingdee International ’s stock market has been performing well, and its share price has risen nearly 70% so far. Just yesterday, the share price of Kingdee International rose 4.22% to close at HK $ 12.36, the highest share price since its listing. JD.com’s placement price is about 6.1% discount to the closing price of Kingdee International.
According to Kingdee International’s 2019 annual report, JD.com holds 8.69% of its shares. The number of shares sold this time accounted for 1.02% of Kingdee International’s issued share capital. After the transaction was completed, JD.com’s shareholdings fell to 7.67%.
In addition to JD.com, JPMorgan Chase also recently reduced its holdings of Kingdee International. According to public information, JPMorgan Chase has significantly reduced its holdings by 5.76% on April 17, and sold 192 million shares at approximately HK $ 11.32 per share, totaling HK $ 2.173 billion.
Data source: Kingdee International Announcement; Cartography:
Citigroup reiterated Kingdee ’s buy rating on March 20 after a slight reduction of 0.06% on February 26. Based on the expected decrease in revenue from traditional ERP business, the bank lowered Kingdee International ’s earnings for this and next year by 10% to 20%, and the target price was reduced from HK $ 13 to HK $ 12.
In addition, in July last year, the day Kingdee International issued a profit warning for the first half of 2019, short selling agency David Webb issued a short report on it. Xu Shaochun, founder and CEO of Kingdee International, said that he reduced the company’s shares 10 days before the end of the performance period and cashed out HK $ 504 million. It is reported that this is the second time David Webb has shorted Kingdee International.
Kingdee International subsequently responded that the major shareholders did not violate the listing rules this time, but its share price fell by more than 10% that month. It slowly recovered after 2 months and did not gradually recover its vitality until this year.
Does Kingdee International, which has suffered a reduction in shareholdings from JD.com and J.P. Morgan, now experience another wave of stock price declines?