Indonesia's Lippo Group says invests $44 million in China's Tencent

Indonesian conglomerate Lippo Group said on Tuesday it had invested 628 billion rupiah ($44.35 million) in Chinese internet giant Tencent Holdings Ltd through shares and equity-linked notes.

Lippo said in a statement that the investment would be done through its Hong Kong arm and would contribute to the group’s digitalisation.

Tencent Holdings, which owns China’s top social media app WeChat, is Asia’s second-most valuable company.