Chinese tech giant Tencent said Thursday that it will distribute around 457 million Class A ordinary shares of online retailer JD to its shareholders as interim dividends. After the distribution, Tencent’s shareholding in JD will be reduced from 17% to 2.3%. Tencent will no longer be JD’s top shareholder. The distributed shares were worth about HK$127.7 billion ($16.4 billion) based on JD’s closing price of HK$279.2 on Wednesday. JD said in a Thursday response that the two companies will maintain their “mutually beneficial business relationship,” and the ongoing strategic partnerships won’t be unaffected by the shareholding change. [Tencent announcement]