Tencent president sells $55M of shares

|About: Tencent Holding Ltd. ADR (TCEHY)|By:, SA News Editor

Tencent’s (OTCPK:TCTZF, OTCPK:TCEHY) president sold 1M shares of the company at a 5.4% premium to Wednesday’s closing price.

Martin Lau sold the shares at an average price of about $55.35 each and reduced his stake from 0.49% to 0.48%. 

Last week, Tencent shareholder Naspers sold a 2% stake for $9.8B, the first time it reduced its stake in nearly two decades. Tencent lost over $51B in market value in two days due to the news.  

Previously: Naspers sells $10.6B of Tencent shares (March 22)