HK-listed web games developer Feiyu surges as Tencent raises stake

Feiyu Technology International

27/05/2021 05:38

** Shares of mobile and web games developer Feiyu Technology
International Co Ltd  1022.HK  surge as much as 20.2% to
HK$1.19, their highest since April 28
    ** Stock on course to snap two straight sessions of decline
    ** Stock set for its best day since April 26; among the 30
biggest percentage gainers on the Hong Kong bourse
    ** Fujian-based company says Tencent  0700.HK  has through
its wholly-owned THL H Ltd bought 90 mln shares, or 5.24% of the
issued share capital, taking its stake to 15.24%   urn:newsml:reuters.com:*:nFWN2ND14A
    ** Says the acquisitions will not have any material effect
on the company's financial position and operations
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  falls 1%, while the Hang Seng Tech
Index  .HSTECH  gains 0.3%
    ** The Hang Seng China enterprises index  .HSCE  slips 0.4%,
and the benchmark index  .HSI  eases 0.3%
    ** By last close, the stock had soared 450% this year 

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)