Kingdom Holding’s investment in JD.com grows by 130% on 1st day of trading

Shares of Jingdong Inc. (JD.com) began trading on the Nasdaq on Thursday (May 22), under the symbol ‘JD’ in which Kingdom Holding Company (KHC) and its Chairman Prince Alwaleed bin Talal hold an equally combined stake of 2.5 percent of its capital.
Chinese online retailer JD.com has raised $1.8 billion in its US share sale at the price of $19 per share.
KHC and Prince Alwaleed combined investment increased its value by 130 percent at closing on the first day of trading.
In February 2014, JD.com exceeded annual sales of $16.7 billion.
In 2013, KHC and Prince Alwaleed acquired an equal strategic stake in JD.com its combined value at $250 million.
This investment is in line with KHC’s diversified and unique investment strategy following Kingdom Holding and Prince Alwaleed’s combined investment in Twitter.
Prince Alwaleed commented: “Our deal solidifies the strategic relationship between Saudi Arabia and China.”
Prince Alwaleed added: “The acquisition is also an extension of the initiative of Custodian of the Two Holy Mosques King Abdullah to support the business alliance between Saudi Arabia and China. This was highlighted during the visit of the then Chinese President Hu Jintao to Saudi Arabia.”
Richard Liu, founder and CEO of Jingdong Inc.(JD.com), said: “We appreciate Kingdom Holding’s support and we look forward to a long lasting and constructive relationship.” KHC has an indirect presence in China via Citibank.
Moreover, prince’s investment in the entertainment sector in China includes Disneyland Hong Kong and in the hotel sector via Four Seasons Hotels and Fairmont Raffles Hotel.
In 2006, Prince Alwaleed had met with the Chinese President Hu Jintao in Riyadh during his official visit to Saudi Arabia.