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Tencent best

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Tencent best

Issue Time:2017-04-20

China's tech giant Tencent Holdings Ltd has become the world's 10th biggest publicly traded company by market value.

Founded in 1998, Tencent is the only Chinese company in the list of 10 biggest companies by market value, while American counterparts dominate the rest of the list.

The Chinese internet titan best known for its WeChat messaging service and gaming apps, gained 1.6 percent last Wednesday at the Hong Kong Stock Exchange, vaulting its capitalization to $279 billion, just a shade above that of US lender Wells Fargo Inc.

Six of the world's top 10 are now technology companies, including the top four.

Tencent went public on the main board of the Hong Kong Stock Exchange in June 2004. Its stock has climbed 43% over the past year and more than 20% in 2017 alone.

Ma Huateng, CEO of Tencent, was named the third wealthiest man in China, according to Forbes' 2016 China Rich List.

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