Brief: Tencent Reduces Equity Interest In Singapore Tech Group Sea To 18.7%

Singapore Technologies Engineering

04/01/2022 12:00

Jan 4 (Reuters) - Tencent Holdings Ltd  0700.HK :
    * SAYS IT INTENDS TO RETAIN SUBSTANTIAL MAJORITY OF ITS
EQUITY
STAKE IN SEA LTD  SE.N  FOR THE LONG TERM AND WILL CONTINUE ITS
EXISTING BUSINESS RELATIONSHIP WITH THE COMPANY
    * SAYS THE DIVESTMENT PROVIDES IT WITH RESOURCES TO FUND
OTHER
INVESTMENTS AND SOCIAL INITIATIVES
    * SAYS IT WILL BE SUBJECT TO A LOCKUP PERIOD RESTRICTING
FROM
FURTHER SELLING SEA SHARES IN THE NEXT SIX MONTHS
    * SAYS IT DIVESTS 2.6% OF EQUITY INTEREST IN SEA, REDUCING
ITS
STAKE TO 18.7% FROM 21.3%

Further company coverage:  0700.HK 

 (Reporting by Hong Kong newsroom)
 ((meg.shen@thomsonreuters.com; 852-39525805;))