Afterpay Limited (ASX:APT), Australia’s buy now and pay later firm, has released an update that Chinese gaming and media group, Tencent Holdings has brought a 5% stake in APT.
The stake was built from March end to April as per ASX filing. Tencent’s shareholding in the firm was about $390 million, based on APT’s share closing level on May 1.
The company seeks to learn from the world’s most successful digital platform business and considers it as a valuable opportunity to be able to tap into Tencent’s vast experience and network.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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