Tencent chairman and CEO Pony Ma speaking during a philanthropy forum in Hong Kong. Pony Ma of Tencent Holdings Ltd is emerging as the true Warren Buffett of Asia’s tech scene. Tencent’s spinoff and listing in Hong Kong of China Literature Ltd shows chairman and CEO Ma won’t fall into the same trap. The failed share sale in 2013 of Cloudary Corp., now part of today’s China Literature, serves as a pertinent reminder that timetables don’t always work. Existing Tencent shareholders get priority entitlement to China Literature stock, with 1,256 shares in the former guaranteeing one of the latter.

Source: Mint October 25, 2017 16:30 UTC