JD.com Stock Slips After $1.75 Billion Convertible Note Plan

Chinese e-commerce giant JD.com (JD) said Tuesday it will raise $1.75 billion through a convertible notes offering, which was upsized from a$1.5 billion target announced earlier in the day. JD stock fell on the news.X The company will use the proceeds to buy back some of its shares, expand its overseas business and improve its supply chain network, according JD's news release. The bonds are due in 2029 and can be converted into equity in the China e-commerce company.The convertible bond offering is the lar ...