Ma Huateng Sells 5 Million Tencent Shares 4 Days To Cash Out HK$2 Billion

According to the Hong Kong Stock Exchange, Mr Ma sold 5m shares of Tencent Holdings in four days from January 14-17, with the share price being around HK$400 and cashing in HK$2bn. Earlier, HKEx documents show that Tencent President Liu Guangping sold 500,000 shares of the company on January 3 for an average of HK$384.1789 per share, cashing out HK$192.1 million (about 170 million yuan).

After days of gains, Tencent’s share price returned to HK$400 a year and a half on January 13th, up 60 per cent in 15 months.

In the past two years, Tencent’s share price has fallen as low as HK$250, and Tencent has bought back shares in batches around HK$330, which is now more than 20 per cent profitable.

Tencent’s founder and CEO Ma Huateng was the second largest shareholder as of December 31, 2018, the second largest shareholder, according to Tencent’s annual report to the Hong Kong Stock Exchange in May last year.

In November, Tencent reported third-quarter 2019 revenue of 97.2 billion yuan, up 21% YoY, while earnings for the period were RMB25,086 million, up 23% YoY, and net profit rose to 26% from 25% a year earlier.

Ma Huateng Sells 5 Million Tencent Shares 4 Days To Cash Out HK$2 Billion