JD.com Slides 7%

JD.com, Inc. (JD) shares are slipping more than 6 percent on Thursday morning trade after the supply chain-based technology and service provider's subsidiary JD Logistics, Inc. proposed to place $400 million placement of new ordinary shares.

Further, JD.com said it intends to enter into a subscription agreement with JD Logistics for a total purchase price of up to approximately $700 million in cash.

Currently, JD shares are at $59.54, down 7.39 percent from the previous close of $64.29 on a volume of 6,139,482. The shares have traded in a range of $41.56-$92.69 on average volume of 14,888,495.

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