Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Chinese technology group Tencent has confirmed plans to invest some USD318 million in one of the country’s leading streaming platforms.
Tencent Group Holdings will subscribe to a total of 25 million in new shares in the streamer known for its animated content as part of the deal, the Shenzhen-based firm said in a statement. The plan raises Tencent’s holding in the Shanghai-based platform to 12 percent, Beijing News reported.
Bilibili [NASDAQ:BILI] closed down 5.7 percent in trading yesterday at USD13.55, while Tencent [HKG:0700] declined 2.4 percent to HKD308.4.
Founded in 2009, Bilibili’s services are popular among China’s younger generations and cover a wide range of genres and media formats including videos, live broadcasting, and mobile games.
Source: yicaiglobal.com