Tencent president cashes in $190m of shares

Martin Lau Chi-ping, president of Tencent (0700), has reduced his stake in the company to cash in around HK$190 million.

Lau sold 250,000 shares of Tencent at an average price of HK$629.7726 on Wednesday and sold 50,000 shares at HK$624.465 on Thursday, according to data from Hong Kong Exchanges and Clearing (0388). 

He sold a total of 300,000 shares. After the transaction, he holds 56.06 million shares. His shareholding fell from 0.59 percent to 0.58 percent. His stake was worth around HK$34.3 billion, based on today's closing price.

Tencent fell 0.65 percent to HK$611.5. 

Lau last time reduced stake in Tencent in January 18. He sold 100,000 shares at HK$659.751 to cash out HK$66 million.