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.
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