Business China News

Tencent’s Pony Ma has reportedly cashed in $387 Million worth of shares in the company

Tencent_China_Front
Share on Facebook
Tweet about this on TwitterShare on Google+Share on StumbleUponShare on LinkedInPin on PinterestShare on Reddit

Tencent_China_Front

Pony Ma, co-founder and CEO of one of China’s largest internet firms Tencent Holdings, has reportedly cashed in shares worth HK$3 Billion ($387 Million | Approx Rs. 2418 crores) as per a recent regulatory filing on the Hong Kong Stock Exchange.

As per ChinaDaily’s report, Ma has reportedly sold a total of 25 Million shares in the preiod between Dec 2 and Dec 5. The prices for shares ranged somewhere in between HK$118.61 and HK$119.97 (approx $15.3).

A Tencent spokeswoman said that Ma’s sale is a part of his “personal wealth management”. Moreover, Ma still remains Tencent’s largest shareholder as he still holds a 9.87% stake in the company.

Ma had recently invested into China’s Ping An Insurance Group via a private share placement. Placement’s value has been approximated to lie in the vicinity of HK$36.5 Billion and involves 10 other investors.

The number of shares which Ma sold account for a trivial 0.5% of company’s outstanding stock. Prior to this, Ma had sold shares back in 2011, though at an even smaller scale.

IMAGE : FLICKR/CC2.0/ALEX KWONG

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.


Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *