TOKYO: Tencent Holdings Ltd is buying a 20% stake in Japan’s Marvelous Inc, giving the smaller company capital to develop its game franchises and sending its shares soaring.
China’s biggest game company, through affiliate Image Frame Investment, will spend about seven billion yen (US$65mil) to buy stock in the company, the Japanese games maker said in a statement. Marvelous will sell 8.62 million new shares for 576 yen apiece, while shareholders Amuse Capital and Nakayama Hayao will sell 2.83 million and 708,600 shares respectively at the same price.