Tencent Purchases 990,000 Shares on June 18: HKEX Filing

Tencent Holdings Ltd has reportedly purchased 990,000 shares on June 18, according to an HKEX filing. The company's primary business segments include value-added services, online advertising, fintech and business services, and other activities such as film and TV production, licensing, and merchandise sales.

Title: Tencent's Recent Share Purchase and Potential Acquisition of Nexon

On June 18, Tencent Holdings Ltd. purchased 990,000 shares, as reported by the Hong Kong Exchanges and Clearing Limited (HKEX) [1]. This transaction comes amidst rumors that Tencent is exploring the possibility of acquiring South Korean gaming company Nexon Co., known for hits like MapleStory, Dungeon Fighter, The Finals, and Arc Raiders.

According to sources with knowledge of the matter, Tencent has reached out to the family of Nexon's late founder, Kim Jung-ju, to discuss the potential acquisition. Kim's family members own their stake through the family investment firm NXC Corp., which holds 44.4% of Nexon [2]. The family's stake, including that of Kim's wife and daughters, is valued at approximately 67.6% of NXC.

The move aligns with Tencent's strategy to bolster its presence in the gaming segment, particularly in South Korea. Tencent had previously attempted to acquire Nexon in 2019 but faced challenges in negotiations. The current discussions are being conducted at a time when Nexon's net sales in the first quarter were about 114 billion yen, and net profit was 26 billion yen, with the company valued at $15 billion [2].

However, any potential acquisition may face hurdles. The Korean government now holds a stake in the Kim family investment vehicle NXC, which could complicate the deal. Additionally, the family may have limited exit options, making Tencent the most likely buyer [1]. The structure of any deal has not been finalized, and both Tencent and Nexon have declined to comment on the matter.

Tencent's recent share purchase could be seen as a strategic move to gain a stronger foothold in the South Korean gaming market, but the potential acquisition of Nexon remains uncertain. The deal would need to navigate various legal and financial complexities, including the involvement of the Korean government and the family's stake in Nexon.

References:
[1] https://www.bloomberg.com/news/articles/2025-06-12/nexon-adrs-up-14-as-tecent-said-to-study-acquisition
[2] https://gagadget.com/en/651902-a-giant-deal-is-on-the-horizon-tencent-sets-its-sights-on-nexon-publisher-of-arc-raiders-and-the-finals/