Tencent Surpass Wells Fargo to Become 10th Largest Company
Tencent, the Chinese tech company has passed Wells Fargo to become the world’s tenth most valuable public company. The stock has rose 43% in the past year and more than 20% in 2017 alone to reach $279 billion. This has allowed it to pass Wells Fargo’s $275 billion market capitalization.
“Six of the top 10 companies by market value are now technology including the top four.”
Tencent has joined the likes of Apple Inc and Alphabet Inc in the ranks of the world’s largest publicly traded companies. Six of the top 10 companies by market value are now technology including the top four.
Founded in November, 1998, Tencent is a leading provider of Internet value added services in China. Since its establishment, Tencent has maintained steady growth under its user-oriented operating strategies. On June 16, 2004, Tencent Holdings Limited (SEHK 700) went public on the main board of the Hong Kong Stock Exchange.
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