Ma sells $387m of Tencent shares, filings reveal

The chairman and chief executive of Tencent Holdings Ltd has cashed in shares worth HK$3 billion ($387 million) in the Chinese Internet firm this month, according to regulatory filings made with the Hong Kong stock exchange.

Pony Ma, who co-founded Tencent in 1998 and helped turn it into one of the world's most influential Internet firms, sold a total of 25 million shares between Dec 2 and Dec 5, at prices ranging between HK$118.61 and HK$119.97.

A Tencent spokeswoman said the sale was related to Ma's "personal wealth management". Ma himself was not immediately available to comment.