Tencent gears up for date with SSE

Hong Kong-listed Tencent Holdings Ltd, operator of the mainland's largest online instant messaging (IM) service, is gearing up for a listing on the Shanghai bourse as soon as the ban on initial public offerings (IPOs) is lifted.

"We have always been considering listing in Shanghai so that our clients on the mainland can buy our shares," the company's Chairman Ma Huateng told reporters in a group interview at Tencent's headquarters.

Tencent plans to use the proceeds of its proposed Shanghai listing to diversify into new businesses. The company recently launched several new online games to test its capability in tapping into China's fast-growing online game market.