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2022-01-04

Hmm...Tencent seemed to be extracting themselves from companies they previously invested. First JD and how SEA.

Tencent to reduce voting stake in Singapore tech group Sea,the latter fell nearly 5% in premarket trading

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First JD and how SEA.&nbsp;</p></body></html>","text":"Hmm...Tencent seemed to be extracting themselves from companies they previously invested. First JD and how SEA.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/695988334","repostId":1172090539,"repostType":4,"repost":{"id":"1172090539","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1641297118,"share":"https://www.laohu8.com/m/news/1172090539?lang=&edition=full","pubTime":"2022-01-04 19:51","market":"us","language":"en","title":"Tencent to reduce voting stake in Singapore tech group Sea,the latter fell nearly 5% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1172090539","media":"Tiger Newspress","summary":"Sea fell nearly 5% in premarket trading.Chinese gaming and social media company Tencent Holdings Ltd","content":"<html><head></head><body><p>Sea fell nearly 5% in premarket trading.<img src=\"https://static.tigerbbs.com/4e48734bab7df39f0f77d5a6facdffd5\" tg-width=\"770\" tg-height=\"567\" width=\"100%\" height=\"auto\"/>Chinese gaming and social media company Tencent Holdings Ltd has agreed to convert its Class B ordinary shares in Singapore-based gaming and e-commerce firm Sea Ltd into Class A ordinary shares, reducing its voting power to less than 10%.</p><p>In a statement issued on Wednesday, U.S.-listed Sea said Tencent and its affiliates, which together hold a 21.3% stake in the company, had given an irrevocable notice to convert its entire Class B ordinary shares.</p><p>Upon conversion, all outstanding class B shares of Sea will be beneficially owned by Forrest Li, the founder, chairman and CEO of Sea, whose market value of $124 billion makes it Southeast Asia&#39;s most valued company.</p><p>Tencent has also agreed to terminate its proxy to Li after the conversion.</p><p>Sea said the changes are subject to approval by its shareholders at its annual general meeting on Feb. 14.</p><p>It said that once the changes are made, the outstanding Class B ordinary shares beneficially owned by Li are expected to represent about 57% of the voting power, up from about 52%.</p><p>Separately, Li holds about 54% of the total voting power related to the size and composition of Sea&#39;s board of directors.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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