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.


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.


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.


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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