China’s biggest e-commerce company may sell about a 12 percent stake in itself, according to a person with knowledge of the matter, making it an $18.4 billion offering based on the $153 billion average valuation of analysts, according to data compiled by Bloomberg. Tencent’s market value is $136 billion.
Chinese Internet companies led by Alibaba and Tencent have announced 48 acquisitions and investments with a value of $19.7 billion since 2012, according to data compiled by Bloomberg.
Earlier this month, Tencent agreed to buy a 15 percent stake in Chinese e-commerce website JD.com Inc. and transfer some of its own assets to build a stronger competitor to Alibaba. In February, it acquired 20 percent in Dianping, the operator of a Yelp-like website in China, to strengthen location-based services.
“The e-commerce is going good and the cooperation with JD.com will bring good news in coming quarters,” said You Na, an analyst at ICBC International Research Ltd. in Hong Kong. “The cost growth was driven by their e-commerce investment.”
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