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TENCENT Said to Cut Stake in Futu Holdings (FUTU.US) to Cash Out US$200M
Recommend 8 Positive 14 Negative 19 |
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Futu Holdings Limited (FUTU.US)'s ADS was sold by an unidentified shareholder at a 5.9% premium to Wednesday's (25th) closing price, cashing out about US$206 million, Bloomberg quoted sources as saying. It is reported that the shareholder is TENCENT (00700.HK). Futu Holdings Limited closed up 7.88% to US$81.47 overnight. TENCENT has been unwinding part of its portfolio, and the sale of Futu Holdings Limited's shares is in line with its strategy, sources said. TENCENT and Futu Holdings Limited have not responded to the report. AAStocks Financial News |
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