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Walmart Inc. is seeking to raise up to $3.74 billion by selling its stake in Chinese e-commerce firm JD.com Inc., people familiar with the matter said.
The US retailer is offering 144.5 million shares in a $24.85 to $25.85 price range, the people said, asking not to be identified because the information is private. Morgan Stanley is the broker-dealer of the offering, they added.