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Tencent to buy 5% stake in Yonghui Superstores

Published Tue, Dec 12, 2017 · 09:50 PM
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Hong Kong

CHINESE tech giant Tencent Holding Ltd plans to buy a 5 per cent stake in Yonghui Superstores, the department store operator said on Monday.

The investment will be made through an affiliate of Tencent, which also aims to take a 15 per cent stake in Yonghui Superstore Co Ltd's supply chain and logistics subsidiary via a capital increase, the retailer said in a filing to the Shanghai stock exchange.

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