Tencent news and archive

Lukewarm trading debut on the New York Exchange for Mogu Inc.

New York - Chinese fashion and cosmetic retailer Mog Inc. debuted its trading in the U.S. stock exchange on December, 6. The company’s stock’s price closed its first trading day unchanged from its 14 dollars apiece IPO’s price. Mogu Inc.’s American depositary shares opened at 12 dollars in New York last Thursday, well below the 14 dollars IPO...

Business

EU must challenge PayPal, Apple in payment services: ECB

European Union countries must foster payment services that work across the continent to boost its financial sector and reduce dependence on third countries like the United States, a top European Central Bank official said Monday. "Large non-European companies now play a significant role in the provision of payment services in Europe, while...

Report

Chinese fashion technology platform Meilishuo preparing 4 billion dollars IPO

Chinese online fashion retailer Meilishuo, backed by Tencent Holdings, is reported to be in talks with several investment banks to launch an initial public offering of shares (IPO) in the U.S. The IPO could value the start-up at circa 4 billion dollars, according to people familiar with the matter quoted by the ‘South China Morning Post’. The...

Report

Alibaba acquisition values meal-deliverer Ele.me at 9.5 bn dollars

Chinese e-commerce giant Alibaba said Monday it was acquiring full ownership of leading food-delivery firm Ele.me in a deal that values the Shanghai-based start-up at 9.5 billion dollars. The deal is the latest salvo in the intensifying turf battle between tech heavyweights Alibaba and Tencent in the fast-growing Chinese markets for online food...

Report

China's Tencent draws $41 bn orders for $5 bn bond sale

Chinese gaming and social media titan Tencent has raised $5 billion in a bond issue which attracted orders totalling more than 41 billion US-dollars for its biggest dollar-denominated sale so far, Bloomberg reported Friday. The group, known for its wildly popular "Honour of Kings" video game and ubiquitous WeChat social media platform, Thursday...

Retail

China's tech giants reach global elite with gamers, shoppers

Powered by Chinese smartphone users splurging billions on mobile games and online shopping, China's tech giants Tencent and Alibaba are racing up the elite league of the world's most valuable companies. Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the $500 billion league...

Business

App stores must register with state in China

App stores in China must register with the state from Monday, a government statement said, as China tightens its control over the internet. App stores are "not strict" when they examine and approve apps, the China Cyberspace Administration, the country's internet watchdog, said in a statement. Lax standards have led to the "frequent appearance...