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China's unit eyes $1.5 billion stake in First Capital: sources

Reuters  |  HONG KONG 

By Julie ZhuHONG KONG (Reuters) - JD Finance, a unit of China's No.2 e-commerce firm, is in talks to buy a 24 percent stake worth about $1.5 billion in domestic brokerage First Capital Securities Co Ltd, people with knowledge of the matter said. If the deal goes through, it would be a precursor to JD Finance venturing into financial sectors such as securities, banking and insurance that are seeing the entry of several new technology-focused players. Currently, it mainly offers online financial services and products in China.JD Finance is looking to buy the stake from First Capital's ...

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First Published: Fri, September 15 2017. 10:46 IST