Tencent's most aggressive share buyback sends mixed message

Skeptics say move shows company has no better way to generate returns

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The buyback indicates to some that China's tech giant does not have a better way to generate funds in the near term. © Reuters

CISSY ZHOU, Nikkei staff writer

HONG KONG -- Tencent Holdings is repurchasing shares more aggressively than ever to offset a selldown by its biggest shareholder that comes amid a slowdown in growth at China's most valuable company.

As of Wednesday, Tencent has bought 11.4 billion Hong Kong dollars ($1.45 billion) worth of its own shares since the beginning of the year, compared to HK$2.6 billion last year.

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