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Through the deal, Mr. Zhang recovered over HKD 89 million in cash and decreased his stake in the Chinese online and mobile value-added service provider from 4.1% to 4.05%
From May 26, 2008 to January 5, 2009, Tencent Chairman and CEO Ma Huateng sold over HKD 600 million worth of Tencent shares. Martin Lau, Tencent's president, cut his holdings to 0.62% on May 12, 2009 via the sale of 200,000 shares, valued at HKD 15.916 million in total or HKD 79.582 apiece. Other senior executives of the company have also cashed in on share sales recently.
However, Mr. Ma said that his stake cut was based on personal needs, instead of his pessimism about the company's prospect. And Tencent announced that these deals were relating to its strategy.
Source: www.163.com (June 17, 2009)
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