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First Capital Securities denies JD.com unit to purchase stake

First Capital Securities denies JD.com unit to purchase stake
From Reuters - September 17, 2017

BEIJING (Reuters) - Chinese brokerage First Capital Securities Co Ltd (002797.SZ) denied on Sunday that a unit of e-commerce firm JD.com (JD.O) was in talks to purchase a 24 percent stake.

Reuters reported on Friday that JD Finance was in talks to buy the stake worth about $1.5 billion from First Capitals top and third-largest shareholders, Bloomage Xinyu Investment and Nengxing Holdings Group.

In a stock exchange statement, First Capital said: Currently there is no situation of JD Finance purchasing 24 percent of shares in First Capital as reported by media.

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