Deals
Tencent's WeBank Said Raising Funds at $5.5 Billion Valuation
- Temasek, Tencent said to be among the investors in the round
- Tencent said to hold about 30 percent of WeBank after round
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Tencent Holdings Ltd. is taking part in a fundraising round for WeBank that will value its online financial affiliate at about $5.5 billion and keep its stake at roughly 30 percent, two people familiar with the deal said Wednesday.
WeBank is raising about $450 million via a round that will also include Singaporean state investment company Temasek Holdings Pte. and other investors, said one of the people, who asked not to be identified because the matter is private.