finance.yahoo.com

Tencent $1.64B Enflame Stake Faces 4.16% Float Squeeze

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Sig2.22Sen+2.47Env0.00Soc0.00Gov+0.07

Tencent shares fell 1.9% to $53.90 as investors awaited Enflame’s Sept. 11 Shanghai IPO, valuing the chipmaker at about $9.12B and raising 6.12 billion yuan ($912 million). Tencent’s 17.95% stake would be worth roughly $1.64B at the IPO price, but only 4.16% of post-listing shares will trade initially, tightening float and amplifying early swings.

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