March 21, 2018 / 10:16 AM / 5 months ago

Tencent says will consider A-share listing when conditions are right

HONG KONG (Reuters) - Chinese internet giant Tencent Holdings Ltd will consider an A-share listing in Shanghai when conditions are right, Chief Executive Pony Ma said on Wednesday.

FILE PHOTO: A sign of Tencent is seen during the third annual World Internet Conference in Wuzhen town of Jiaxing, Zhejiang province, China November 16, 2016. REUTERS/Aly Song/File Photo

His comments came two weeks after reports that guidelines for China Depositary Receipts (CDRs), similar to American Depositary Receipts, were likely to be finalised in the second half of this year by China’s securities regulator.

Earlier on Wednesday, Tencent reported a 98 percent rise in quarterly net profit, beating expectations as it deepens monetisation of the growing traffic on its social networks.

Reporting By Sijia Jiang; Editing by Anne Marie Roantree and Muralikumar Anantharaman

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