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Tencent chairman sells 25 million shares for HK$3.85 billion

Director activity high for a third straight week

PUBLISHED : Sunday, 06 December, 2015, 2:13pm
UPDATED : Monday, 16 January, 2017, 10:28am

Director activity was high for a third straight week, with 39 companies recording 217 purchases worth HK$282 million versus 16 firms with 69 disposals worth a whopping HK$4.0 billion.

The figures were sharply up from the previous week’s 33 companies, 171 purchases and HK$128 million on the buying side and 10 firms, 41 disposals and HK$336 million on the selling side.

Chairman and chief executive Pony Ma Huateng resumed selling shares of blue-chip internet business services provider Tencent at higher than his sale price in September with 25 million shares sold from November 30 to December 3 at HK$154.38 each. The trades, worth HK$3.85 billion, accounting for 23 per cent of the stock’s trading volume, reduced his holdings to 855.446 million shares or 9.1 per cent of the issued capital. The disposals were made on the back of a 21 per cent rebound in the share price since the last week of September from HK$127.30. He previously sold 23.85 million shares from September 17 to 22 at an average of HK$134.39 each, 20 million shares from April 9 to 10 at HK$161.04 each and 25.1 million shares in December 2014 at HK$119.05 each. Prior to his sales since December 2014, Ma sold HK$1.047 billion worth of shares from July 2005 to September 2009. Also negative this quarter is executive director Martin Lau with one million shares sold from November 19 to 20 at an average of HK$153.54 each, which lowered his stake to 43.268 million shares or 0.46 per cent. He previously sold one million shares from June 22 to 23 at an average of HK$156.13 each and 2.5 million shares from March 25 to 30 at an average of HK$142.64 each. The stock closed at HK$151.00 on Friday.

Chairman Zhang Tianren recorded his first sales in motive battery products manufacturer Tianneng Power International since the stock was listed in June 2007 with 260,000 shares sold from November 26 to December 1 at HK$7.17 to HK$6.14 each or an average of HK$6.36 each. The trades reduced his holdings to 410.796 million shares or 35.92 per cent of the issued capital. The disposals were made on the back of a 103 per cent rise in the share price since September from HK$3.14. He previously acquired 2 million shares on August 31 at HK$3.09 each and 500,000 shares on July 2 at HK$3.61 each. Prior to his trades this year, Zhang bought 9.9 million shares from October 2011 to June 2014 at an average of HK$3.84 each. Investors should note that there were buybacks by the company earlier this year with 4.5 million shares purchased from July 8 to 21 at HK$2.45 to HK$3.80 each or an average of HK$2.95 each. Those were the group’s first buybacks since listing. The stock closed at HK$6.16 on Friday.

Chief financial officer Wang Guisheng recorded his first trade in mainland furniture manufacturer Man Wah since July 2014 with 174,000 shares sold on December 2 at HK$9.42 each. The trade reduced his holdings by 5 per cent to 3.654 million shares or 0.19 per cent of the issued capital. The sale was made on the back of a 40 per cent rebound in the share price since July from HK$6.73. He previously sold 84,000 shares in July 2014 at HK$12.86 each. Also negative this quarter is executive director Alan Marnie with 394,000 shares sold on October 9 at HK$8.40 each, which lowered his stake by 10 per cent to 3.513 million shares or 0.18 per cent. He previously sold 440,000 shares on August 12 at HK$8.23 each and 564,000 shares from July to October 2013, some of which were options-related sales, at an average of HK$12.00 each. The stock closed at HK$9.28 on Friday.

Robert Halili is managing director of Asia Insider

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