Sequoia China, Tencent invest $244m in unit of HK-listed Shimao Property

Sequoia China, Tencent invest $244m in unit of HK-listed Shimao Property

Shimao Services Holdings Limited, a property management subsidiary of Hong Kong-listed real estate developer Shimao Property, has raised $244 million in a strategic investment from Sequoia Capital China and Tencent, according to a filing with the stock exchange on Thursday.

Sequoia Capital China and Tencent injected $130 million and $114 million into Shimao Services, respectively.

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