By Clarence Leong

Naspers Ltd. unit Prosus NV has disposed of its entire stake in Chinese company JD.com Inc. for about $3.67 billion.

Amsterdam-based internet company Prosus said Monday that its sale of JD.com shares, which amounted to a roughly 4% stake, was carried out through several sales on the open market and concluded last Friday.

Prosus carried out the disposal in part because JD.com "doesn't form part of the group's core strategic focus," it said. It plans to use the proceeds for general corporate and liquidity purposes.

Tencent Holdings Ltd. in December issued class-A ordinary shares of JD.com to some of its shareholders, including Prosus, as an interim dividend to substantially reduce its stake in the e-commerce giant. Prosus had received more than 131 million shares.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

June 27, 2022 03:59 ET (07:59 GMT)

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