STANDARD ANNOUNCEMENTS - November 11, 2021 at 10:19 PM GMT
Announcement for November 11, 2021 at 10:19 PM GMT

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

CHANGE IN LISTING OF JD.COM INC AS PART OF THE NOVEMBER 2021 SEMI-ANNUAL INDEX REVIEW

JD.COM INC (JD.com) met the requirements for a change of listing from its ADR listing in the NASDAQ Global Select to its ordinary-share listing in Hong Kong Exchanges and Clearing Limited (HKEX) in the MSCI China and relevant composite indexes in the MSCI Global Investable Market Indexes (GIMI) as part of MSCI's November 2021 Semi-Annual Index Review (SAIR).

As a reminder, according to section 3.1.2.4 of the MSCI GIMI Methodology, changes from a foreign listing to a local listing for existing index constituents will be applied in all cases where the local listing has a 12-month Annual Traded Value Ratio above two times the minimum level requirement of 15% for Emerging Markets.

MSCI will implement this listing switch for the MSCI GIMI indexes as a market neutral event to reflect the fungibility of the ADR and Hong Kong listings of JD.com.

MSCI will proceed with below implementation for JD.com's change of listing:

- To reflect the listing switch, MSCI will maintain JD.COM ADR (MSCI Code: 75366.01) in the MSCI GIMI with a change in price currency to HKD, a change in identifiers (new Security Ticker: 9618 HK Equity), a change in share type to P-chip and a change in name to JD.COM (HK) effective December 01, 2021;
- MSCI will continue to use the closing price of JD.COM ADR (JD UW Equity) until the close of November 30, 2021 and will start tracking the price of JD.COM (HK) (9618 HK Equity) on December 01, 2021;
- MSCI will apply a Price Adjustment Factor (PAF) to the market price of JD.COM (HK) (9618 HK Equity) on December 01, 2021 to reflect the conversion ratio between Hong Kong listing and ADRs of 2:1; accordingly, MSCI will increase the number of shares as of the close of December 01, 2021 (effective December 02, 2021).

Note that for the pre-open price of December 01, 2021, MSCI will use the closing price of JD.COM ADR (JD UW Equity) on November 30, 2021. This would be adjusted with the USD/HKD WM/Reuters Closing Spot Rates taken at 4PM London on November 30, 2021 and with the conversion ratio between Hong Kong listing and ADRs.

The above noted changes will be reflected in the Advance Corporate Events (ACE) files starting from November 12, 2021. Please note that the pro forma tickers will be reflected in the MSCI product files only on November 30, 2021.

Furthermore, for indexes that exclude foreign listings such as the MSCI China ex Foreign Listing Index, the addition of JD.com will be represented by JD.COM A (HK) (MSCI Code: 75366.03), effective on December 1, 2021, using its Hong Kong price as of the close of November 30, 2021. Effective from December 2, 2021, MSCI will change the security name and MSCI Code of JD.com in the MSCI China ex Foreign Listing Index to JD.COM (HK) and 75366.01 respectively to align with the MSCI GIMI.

The listing switch of JD.com will also be reflected in relevant non-market capitalization weighted indexes in line with their respective parent indexes.

THIS IS AN ANNOUNCEMENT FOR THE MSCI GLOBAL STANDARD INDEXES

                                     End of announcement.
                                     Further announcements may occur as needed.