Tencent

The Chinese conglomerate is known for its social media platform and video games, but it’s into cars too.

The price of the offering and the amount of shares to be sold have yet to be decided

The funds will be used for “general corporate purposes.”

It’s a small share, but that fits Tencent’s strategy.

But the game has yet to get approval domestically.

China’s three tech giants Baidu, Alibaba and Tencent all made “major announcements” on April 1st.

The Hong Kong-listed tech behemoth hopes the repurchase would push up its stock price.

The company wants to take advantage of the country’s high income per household.