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WEIMOB INC Collapses 23%+ as TENCENT Dumps Stake
Recommend 32 Positive 63 Negative 48 |
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TENCENT (00700.HK) reduced its stake in WEIMOB INC (02013.HK), of which share price opened 14.78% lower today (10th) before the slump aggravated. Bottoming at $2.38, the stock last printed at $2.44, down 23.27%, with 99.9157 million shares traded, involving $248 million. TENCENT had trimmed its stake in WEIMOB INC by nearly 122 million shares on Monday (6th), with an average price of $3.4 per share, cashing in nearly $415 million and reducing its stake from 6.55% to 2.94%. WEIMOB INC underscored that it will continue to maintain a mutually beneficial and win-win business relationship with TENCENT and continue to serve as a service provider for WeChat Mini Shop, mini programs and Tencent advertisements. AAStocks Financial News |
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