Tencent sells 1 / 4 of its Glu Cell shares for $56 million

Newsbrief: Tencent decreased its stake in Diner Sprint developer Glu Cell by promoting greater than 7.2 million shares of the corporate.

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In keeping with acquired by Pocket Gamer the Chinese language firm offered 7,259,728 shares in Glu Cell for US$7.75 per share for a transaction quantity of US$56,262,892.

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As early as 2015, after Glu's Kim Kardashian's Hollywood success, Tencent first acquired 19 million shares for $126 million, and later invested in Glu in early 2016.

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After deciding to unload some shares, Tencent nonetheless owns 21 million shares of Glu Cell or owns 14.46% of the corporate's issued shares.

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