BUZZ-HK-listed web games developer Feiyu surges as Tencent raises stake

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BUZZ-HK-listed web games developer Feiyu surges as Tencent raises stake

Reuters2021-05-27

** Shares of mobile and web games developer Feiyu Technology International Co Ltd surge as much as 20.2% to HK$1.19, their highest since April 28

** Stock on course to snap two straight sessions of decline

** Stock set for its best day since April 26; among the 30 biggest percentage gainers on the Hong Kong bourse

** Fujian-based company says Tencent has through its wholly-owned THL H Ltd bought 90 mln shares, or 5.24% of the issued share capital, taking its stake to 15.24%

** Says the acquisitions will not have any material effect on the company's financial position and operations

** The Hong Kong Hang Seng sub-index tracking information technology firms falls 1%, while the Hang Seng Tech Index gains 0.3%

** The Hang Seng China enterprises index slips 0.4%, and the benchmark index eases 0.3%

** By last close, the stock had soared 450% this year

(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)

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Jeremyjoosik
·2021-05-27
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