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Tencent Holdings Plans to Spin-Off China Literature

By Chester Yung Dow Jones Newswires

Chinese internet giant Tencent Holdings Ltd. (0700.HK) said late Friday it plans to spin-off and do a separate listing of its unit China Literature Ltd, which operates online literature platforms.

After the proposed spin-off, Tencent will hold at least 50% stake in China Literature, therefore China Literature will remain its unit, the Chinese internet firm said.

Write to Chester Yung at chester.yung@wsj.com

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July 02, 2017 22:15 ET (02:15 GMT)