World’s largest gaming company Tencent sells huge amount of bond
April 4, 2019 | Investopaper
Chinese company Tencent which is known as a social media and gaming giant has reported issuing a bond worth $6 billion this year.
This would mark the largest bond sale by any company in Asia for the year. The bond will be issued on April 11.
Lately, the company was troubled by the Chinese government after the government stopped approvals of new video games. The company which has profited a lot from its gaming business was hit badly by this government decision.
The company lost around $127 billion in market valuation after the disapproval.
Similarly, the company has reported a decline of 35 percent in its net profit in the fourth quarter of 2018.
