SHANGHAI :
JD.Com Joins Mixed-Ownership Reform of China National Gold Subsidiary
Xu Wei
DATE:  Aug 25 2017
/ SOURCE:  Yicai
JD.Com Joins Mixed-Ownership Reform of China National Gold Subsidiary JD.Com Joins Mixed-Ownership Reform of China National Gold Subsidiary

(Yicai Global) Aug. 25 -- Chinese e-commerce giant JD.Com Inc. [NASDAQ: JD] will buy into the mixed-ownership reform of China National Gold Group Gold Jewelry Co., a subsidiary of China National Gold Group Corp. [HKG:2099], as a strategic investor, state-owned news agency Xinhua reported on Aug. 24.

The reform will take on board one industrial and seven strategic investors, the report said, while carrying out its employee stock ownership plan.

The other strategic investors are CITIC Securities Co. [SHA:600030; HKG:6030], Industrial Bank Co. [SHA:601166], Zhongrong International Trust Co., CCB Trust Co. , Guangzhou Yuexiu Financial Holdings Group Co. [SHE:000987] and Wuxi Jun Yuan Capital Management Center.

The seven strategic investors, together with the industrial investor and employee stock ownership plan, will hold a total of 41 percent in the company. Shares held by the parent company will be cut to around 43 percent.

After undergoing the reform, the company will advance its plans to go public.

The Xinhua report failed to detail the name of the industrial investor, investment amounts or the proportion of shares held by each company.

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Keywords:   MSCI,China National Gold,Guangzhou Yuexiu Financial,Industrial Bank,China National Gold Group Gold Jewelry,Zhongrong International Trust,CCB Trust,CITIC Securities