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Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

<ul>
<li>Tencent announced today that its board of directors has resolved to declare a special dividend by way of a distribution of its Class A ordinary shares of JD.com. </li>
<li>There is increased speculation that there is more divestments to come that including Tencent’s stakes in Meituan, Kuaishou and Pinduoduo.</li>
<li>Tencent’s shares are up 4.3% from yesterday’s close following the announcement while JD.com is 7.1% down from its previous close.</li>
</ul>


Tencent announced today that its board of directors has resolved to declare a special dividend by way of a distribution of its Class A ordinary shares of JD.com. 
There is increased speculation that there is more divestments to come that including Tencent’s stakes in Meituan, Kuaishou and Pinduoduo.
Tencent’s shares are up 4.3% from yesterday’s close following the announcement while JD.com is 7.1% down from its previous close.


Tencent’s Special Dividend: Is It a Sign the Walled Gardens Are Coming Down?