(Yicai Global) Dec. 28 -- Chinese e-commerce giant JD.Com will invest almost HKD800 million (USD103 million) to gain 5.68 percent of China Dili Group's total shares to build China's strongest fresh food supply chain system, Dili announced yesterday. Its stock [HKG:1387] traded 32 percent higher in midafternoon at HKD2.64 (40 US cents) after going as high as 47 percent in the morning after the news.

The two sealed their subscription agreement on Dec. 25. Beijing-based JD.Com will take 478 million Dili shares for HKD1.67 apiece.

Beijing-based Dili is a leading Chinese agricultural product circulation services provider. It runs 10 large agricultural product wholesale markets in seven cities, including Hangzhou, Shenyang and Harbin. The company also runs more than 400 terminal stores in more than 10 large and medium cities in China’s northeast, north, middle, southwest and other regions.

Editor: Ben Armour, Xiao Yi