13-08-2013, 03:13 PM
An interesting rumour to share...
A technology listing targeted on SGX, rather than on Nasdaq, or even HKEx? No wonder i saw the WeChat TV advert recently...
Tencent plans Singapore IPO for WeChat spinoff
Chinese technology giant Tencent Holdings is planning to list its popular messaging app Weixin, or WeChat, as a spinoff company in Singapore, the official China Daily reported on Tuesday, citing an unnamed source.
The source told the paper that Hong Kong-listed Tencent had opened an office in Singapore to deal with the listing, which it had originally planned to hold in Hong Kong. The report did not give a timeframe or other details for the listing.
“We have no idea where this market rumour originates from and will not comment on it,” Tencent spokeswoman Jane Yip told Reuters.
China’s largest online gaming and social networking firm, led by Chief Executive and Chairman Pony Ma, is set to announce its second-quarter earnings on Wednesday.
Tencent, which competes with Alibaba Group and Baidu Inc, has invested heavily in the popular messaging app as it and other Chinese Internet companies try to broaden their revenue streams.
http://www.theedgesingapore.com/the-dail...noff-.html
A technology listing targeted on SGX, rather than on Nasdaq, or even HKEx? No wonder i saw the WeChat TV advert recently...
Tencent plans Singapore IPO for WeChat spinoff
Chinese technology giant Tencent Holdings is planning to list its popular messaging app Weixin, or WeChat, as a spinoff company in Singapore, the official China Daily reported on Tuesday, citing an unnamed source.
The source told the paper that Hong Kong-listed Tencent had opened an office in Singapore to deal with the listing, which it had originally planned to hold in Hong Kong. The report did not give a timeframe or other details for the listing.
“We have no idea where this market rumour originates from and will not comment on it,” Tencent spokeswoman Jane Yip told Reuters.
China’s largest online gaming and social networking firm, led by Chief Executive and Chairman Pony Ma, is set to announce its second-quarter earnings on Wednesday.
Tencent, which competes with Alibaba Group and Baidu Inc, has invested heavily in the popular messaging app as it and other Chinese Internet companies try to broaden their revenue streams.
http://www.theedgesingapore.com/the-dail...noff-.html