Tencent to cut voting stake in Singapore tech group Sea

FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

SINGAPORE (Reuters) -Chinese gaming and social media company Tencent Holdings Ltd has agreed to convert its Class B ordinary shares in Singapore-based gaming and e-commerce firm Sea Ltd into Class A ordinary shares, reducing its voting power to under 10%.

In a statement issued on Tuesday, U.S.-listed Sea said Tencent and its affiliates, which together hold a 21.3% stake in the company, had given an irrevocable notice to convert all their Class B ordinary shares.