Tencent sells $4b stake in Singapore tech group Sea

A Tencent logo is seen during the World Internet Conference in Wuzhen, China on Nov 23, 2020.
PHOTO: Reuters file

Chinese gaming and social media company Tencent Holdings Ltd on Wednesday (Jan 5) sold a stake worth US$3.01 billion (S$4.08 billion) in Singapore-based gaming and e-commerce firm Sea Ltd.

Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday it would reduce its voting power in the US-listed firm to under 10 per cent.

Sea and Tencent did not immediately respond to a request for comment from Reuters.

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