Tencent Holdings Ltd. announced on Friday at the Hong Kong Stock Exchange (HKEx) that it would grant a total of 8,004,807 award shares to at least 22,800 staff members. This move is aimed at rewarding their contributions, as well as to attract and retain talent for the group.
As of the close of HKEx trading that day, Tencent‘s share price was reported at HK$474.8 ($60.98) per share. Accordingly, the total value of Tencent‘s new shares issued this time amounts to about HK$3.8 billion, and the average value of shares obtained by the above-mentioned people is HK$166,000.
Chinese internet giant Tencent has been awarding stock to its employees in the past several months. In December, 2021, Tencent awarded shares to 25,700 individuals. Calculated by the erstwhile stock price, each person received shares worth $HK80,000 on average. And in July 2021, Tencent also issued stock awards to more than 3,300 employees.
On January 19, a report entitled “Hurun China 500 Most Valuable Private Companies 2021” was released. Tencent ranked top, followed by TSMC, Alibaba, ByteDance and Contemporary Amperex Technology Limited (CATL, a leading battery firm).