Skadden, Arps, Slate, Meagher & Flom and Davis Polk & Wardwell had the lead roles in Chinese online retailer JD.com’s $1.3 billion private share placement to technology company Tencent Holdings Ltd.
The shares were offered through Huang River Investment Ltd., a wholly owned subsidiary of Tencent, alongside JD’s Nasdaq initial public offering this week, which raised an additional $1.78 billion. Shenzhen-based Tencent will now own about 20 percent of JD, operator of Jingdong Mall, China’s second-largest online shopping site after Alibaba Group Holdings Ltd.’s Taobao.com.
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