Tencent Makes Biggest Buyback After Addition to Pentagon List

Tencent bought back the most number of shares in a single day Wednesday, a move that should support the share price after the Chinese tech giant’s appearance on a Pentagon list triggered …

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Tencent Makes Biggest Buyback After Addition To Pentagon List

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Tencent 700-0.64%decrease; red down pointing triangle bought back the most number of shares in a single day Wednesday, a move that should support the share price after the Chinese tech …

wsj.com

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Tencent Makes Biggest Buyback Since 2006 After US Blacklist

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Jan 8, 2025 · While Tencent has been stepping up efforts to increase returns to shareholders, the HK$1.5 billion ($193 million) single-day purchases signaled urgency to contain the fallout from …

yahoo.com

FAQs about Tencent Makes Biggest Buyback After Addition to Pentagon List Coupon?

Why did Tencent make a big one-day buyback?

Tencent made its biggest one-day buyback of shares in almost two decades in a move that analysts said should support the share price, after the Chinese tech giant’s appearance on a Pentagon list triggered one of its heaviest selloffs in years. ...

How much did Tencent buy back?

The shares were bought at prices ranging from HK$376.8 to HK$392.4 per share, amounting to HK$1.5 billion ($193 million). This marks Tencent’s most significant buyback since April 2006, nearly 20 years ago, according to Bloomberg data. It also surpasses the approximately $700 million in shares repurchased the previous day. ...

Why did Tencent repurchase the most shares in two decades?

Tencent Holdings Ltd. repurchased the most shares in nearly two decades after a selloff sparked by the tech firm’s addition to a US blacklist for alleged links to the Chinese military. China’s most valuable company bought back 3.93 million Hong Kong-listed shares on Tuesday, the most since April 2006, Bloomberg-compiled data show. ...

Why is Tencent stock down a 10th since Pentagon blacklisted WeChat?

It topped that just a day later, scooping up another 4.05 million shares. The stock is now down about a 10th since the Pentagon blacklisted the WeChat operator. Tencent said it will work with the Department of Defense to address any misunderstanding. ...

Is Tencent a military company?

The latest outlay on shares came as Tencent’s stock suffered its second-biggest loss in a year after the company was added to a list of Chinese companies that the U.S. Defense Department identifies as military in nature, a reflection of the Pentagon’s assessment that China fuses commercial and military technology. ...

How much did Tencent spend on share buybacks in 2024?

Tencent started repurchasing more aggressively last year, with its spending on buybacks more than doubling from 2023 to roughly $14.4 billion. In 2024, Tencent spent more money than any other Hong Kong-listed company on share buybacks, more than double that of HSBC Holdings, which ranked second, Wind data showed. ...