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
