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Tencent president cashes in $131m of shares as price surges

Martin Lau Chi-ping taps into stock's 45% jump this year on gaming expectations

JPMorgan Chase & Co. said Tencent is entering its strongest growth in the game business since 2008.   © Reuters

Martin Lau Chi-ping, president of Tencent Holdings, cashed in on the social media and game giant's surging stock price this year to the tune of HK$920 million ($131 million) by selling off shares.

Lau unloaded 500,000 Tencent shares for HK$254 million last week, reducing his holding in the company to 0.57%, according to Tencent's latest disclosure to the Hong Kong stock exchange. It was the fourth time this year that Lau sold Tencent shares.

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