Tencent says it won’t reduce on investments this yr
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Individuals go to the Tencent stand throughout the 1st Digital China Summit at Strait Worldwide Convention and Exhibition Heart on Apr. 22, 2018 in Fuzhou, China.
China’s Tencent Holdings won’t reduce on investments this yr after a document excessive of 16 firms it invested in launched IPOs final yr, President Martin Lau stated at a closed-door investor convention in Beijing.
Lau stated 2018 was the very best yr for the corporate when it comes to funding, in line with a transcript of his speech made final month and seen by Reuters on Wednesday.
Tencent invested in additional than 700 firms prior to now 11 years, Lau stated, and 63 of these are actually listed, whereas 122 are valued at greater than $1 billion, in line with the transcript.
Shares of Tencent fell 23 % in 2018.