A subsidiary of Tencent Holdings is planning to invest almost 291 million yuan ($41.5 million) in Jiangsu Xunjie Medical Technology, an emergency medical aid firm, in the latest deal made by the Chinese tech giant despite its recent exits from a range of portfolio companies.
Xunjie, currently a wholly owned affiliate of China’s publicly listed medical device manufacturer Yuyue Medical, agreed to sell a 19.5% stake to Tencent for close to 291 million yuan at a pre-money valuation of 1.2 billion yuan ($171.1 million), the parent firm disclosed in a filing with the Shenzhen stock exchange on Monday evening.
