My guess - the reason Tencent's share offering was so much lower than yesterday's close... the value is in the billions. If you were going to buy shares worth billions all at once, you want a discount to start with. That extra 5-10% means a lot with that kind of money being thrown away. I don't think it necessarily means it is a sign of weakness. Remember, Tencent still holds a majority of its stake. this is an obvious signal$Sea Ltd(SE)$