28 Mar '17, 3pm

Chinese tech giant Tencent takes 5 percent stake in Tesla for $1.78 billion

Chinese tech giant Tencent acquired a 5 percent stake in California-based electric carmaker Tesla Inc. for $1.78 billion. Tencent now owns about 8.2 million shares, 8,167,544 shares to be exact, in Tesla , the carmaker said. Tencent is now the fifth-largest shareholder in Tesla, behind Elon Musk and investment companies Fidelity, Baillie Gifford and T. Rowe Price, according to a Schedule 13G form filed by Tesla with the US Securities and Exchange Commission (SEC). Tesla has been raising capital as it readies for the launch of its mass-market Model 3 sedan. Tesla raised about $1.2 billion by selling common shares and convertible debt earlier this month. Elon Musk is Tesla’s top shareholder, with a stake of about 21 percent as of Dec. 31.

Full article: http://electriccarsreport.com/2017/03/chinese-tech-giant-...

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Chinese Tech Giant Tencent Buys 5 Percent of Tesla

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