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Tencent sells a quarter of its Glu Mobile shares for $56 million

Tencent sells a quarter of its Glu Mobile shares for $56 million

June 7, 2019 | By Alissa McAloon

Newsbrief: Tencent has reduced its stake in Diner Dash developer Glu Mobile through the sale of just over 7.2 million shares in the company.

According to an SEC filing picked up by Pocket Gamer, the Chinese company sold 7,259,728 of its shares in Glu Mobile for $7.75 a share, making for a $56,262,892 transaction.

Back in 2015 Tencent first picked up 21 million shares for $126 million following the success of Glu’s Kim Kardashian Hollywood, and, later on, invested further in Glu in early 2016.

Following its decision of offload some of its shares, that still leaves Tencent with 21 million shares in Glu Mobile, or ownership of 14.46 percent of outstanding shares in the company overall.

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