Rakuten Shares Jump 24% Post Stake Sale to Tencent, Walmart & Japan Post Mar 15 2021 · 10:06 UTC by Bhushan Akolkar · 3 min read Photo: Depositphotos You have successfully joined our subscriber list. Rakuten is raising a massive $2.2 billion with its stake to some of the big companies. The company plans to use this capital to expand its delivery network and establish a strong footing in Japan’s rural areas. On Monday, March 16, shares of Japanese tech giant Rakuten surged a massive 24% after the company announced a $2.2 billion fundraising. At the closing hours of the market, Rakuten Inc (TYO: 4755) shares were trading at 1,545 JPY. Last Friday, Rakuten announced that it will be part of its stake to raise funds for expansion and compete with its US. rivals. Thus, Rakuten will sell 8.3% to local postal giant Japan Post. Similarly, Chinese telecom giant Tencent takes a 3.6% stake while US retail giant Walmart takes 0.9% stake. With this move, Japan Post will also be the biggest shareholder in Rakuten after the Mikitani family.