Tencent Shares Down as Pony Ma Trims Stake in Company 

By Alex Ho

Investing.com – Chinese technology heavyweight Tencent Holdings Ltd (HK:)’ shares in Hong Kong were down more than 2% after Pony Ma, the company’s chairman, trimmed his stake in the company.

Tencent’s shares last traded at HK$385.20 by 1:05 AM ET (05:05 GMT), down 2.7%.

The fall in prices came after stock exchange filings showed that Ma raised nearly 2 billion Hong Kong dollars ($257.4 million) by selling five million shares in Tencent between Jan. 14 and Jan. 17.

Following the sale, Ma still owns 8.53% of Tencent.

The disposal was the tycoon’s first sale since October 2017, when he cashed in about $2.1 billion Hong Kong dollar worth of his personal holdings.

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