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JD.com, China’s second largest e-commerce site and Alibaba’s rival, will be in focus today.
It has received a $17.2 million investment from Singapore state-owned investment firm Temasek, according to a filing with the U.S. Securities and Exchange Commission. This translates to a stake of 0.06% for Temasek, based on Bloomberg data.
The Temasek backing will likely further boost investor confidence over JD.com. The Chinese company had its US IPO in May, which raised $1.78 million. Its stock price has gained 58% in the last three months since debuting on Nasdaq.