Tencent Holdings Limited (SEHK:700) commences share repurchases on May 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 14, 2024. As per the mandate, the company is authorized to repurchase up to 941,949,197 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value and/or earnings per share for the company.

The repurchases will be made out of funds which are legally available for such purpose in accordance with all applicable laws of the Cayman Islands and the Memorandum and Articles of Association. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual general Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 14, 2024, the company had 9,419,491,969 shares in issue.