The increased regulation of technology and gaming companies in China has seriously affected the market value of Tencent. It was also affected by the fact that in June one of the largest shareholders of the holding, Prosus, announced that he planned to reduce his share.
According to Bloomberg, Tencent is trying to rectify the situation, including by repurchasing shares. In the last month alone, it has spent almost $1 billion on this.
Tencent shares are currently trading at $37.23 apiece. They haven’t been so cheap since 2018.