Walmart stock ticks higher as PhonePe IPO share-sale details emerge — what’s next for WMT
Walmart shares rose 0.3% to $118.20 Friday after Reuters reported the company will sell about 46 million PhonePe shares in the Indian payments unit’s IPO. The offering, expected to cut Walmart’s stake by roughly 12%, is entirely secondary, with proceeds going to selling shareholders. CEO transition is set for Feb. 1, and quarterly earnings are due Feb. 19.