Tencent Holdings

China wins allies for web vision in ideological battle with US
(Apr 15): A swathe of the world is adopting China’s vision for a tightly controlled internet over the unfettered American approach, a stunning ideological coup for Beijing that would have been unthinkable less than a decade ago. Vietnam and Thailand are among the Southeast Asian nations warming to a governance model that twins sweeping content curbs with uncompromising data controls -- ...
Tencent-backed Sea to raise US$1.35 bil in US share sale
(Mar 6): Sea, operator of Southeast Asia’s biggest gaming platform, has raised US$1.35 billion ($1.83 billion) after increasing the size of a follow-on stock offering. The Singapore-based internet company sold 60 million American depositary shares at US$22.50 each, or about a 6.5% to its last close in New York. An affiliate of Tencent Holdings as well as a separate firm linked to one of ...
The world's top IPO venue for 2018 sees worst returns in decade
(Dec 19): Hong Kong is host to the world’s busiest venue for initial public offerings this year. And the worst losses in a decade. A boom in technology listings has propelled local deal value to US$35.7 billion ($49.1 billion), ahead of the New York Stock Exchange, according to data compiled by Bloomberg. Yet companies that raised at least US$100 million dropped 6.2% in their first month of ...
DBS CEO says fintech firms need more scrutiny by regulators
(Sept 6): Regulators need to increase their scrutiny of non-bank firms that are moving into the financial business, according to the chief executive officer of DBS Group Holdings, Southeast Asia’s largest lender. “Absolutely,” Piyush Gupta said when asked at a Bloomberg forum in Singapore whether more regulation is needed for technology and other firms that are competing with traditional ...
China's Meituan Dianping sets HK IPO valuation at up to US$55 bil
(Sept 3): China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($10.48-$12.58) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to US$55 billion, four people with direct knowledge of the matter said. Meituan, already one of China’s most valuable internet firms, could raise as ...
Sea loss widens on investment in Shopee e-commerce platform
(Aug 22): Sea Ltd., operator of Southeast Asia’s biggest gaming platform, posted a wider quarterly loss as it invests in building up e-commerce platform Shopee. The net loss was US$250.8 million ($342.8 million) in the three months ended June compared with a loss of US$92.1 million a year earlier, Singapore-based Sea said in an emailed statement. Total revenue at the company rose to US$183.8 ...
Chinese EV maker NIO takes on Tesla
(Aug 14): NIO Inc., the electric-car maker backed by technology giant Tencent Holdings, filed for a US$1.8 billion ($2.5 billion) initial public offering as it gears up to compete against the likes of Tesla Inc. The company applied to list its American depositary shares on the New York Stock Exchange under the symbol NIO, and the US$1.8 billion registration amount is a placeholder to calculate ...
Go-Jek backers said to offer US$1 bil funding to fuel growth
(June 7): Go-Jek, the Indonesian ride-hailing provider, has been offered at least US$1 billion ($1.3 billion) of new funding from existing investors eager to accelerate its overseas expansion, people with knowledge of the matter said. Current backers including Tencent Holdings, China’s biggest internet firm, and Warburg Pincus have informally discussed providing more funding to ensure ...
Sea mulls raising funds for e-commerce as quarterly loss triples
(May 16): Sea, operator of Southeast Asia’s biggest gaming platform, said it may raise funds to strengthen its balance sheet after its quarterly loss tripled on rising investments at mobile-shopping unit Shopee. The Singapore-based gaming and e-commerce company said its net loss during the three months ended in March was US$215.6 million, compared with US$73.1 million a year earlier. Total ...
Sea reports mounting losses, president Nick Nash to depart
SINGAPORE (Mar 1): Sea, operator of Southeast Asia’s biggest gaming platform, reported mounting losses amid investments for growth and said group president Nick Nash will leave his position at the end of the year. The Singapore-based company reported its net loss for the quarter ended in December more than tripled to US$263.1 million ($348.6 million), compared with analyst estimates that it ...