Lippo Group has invested 628 billion rupiahs ($45 million) into Tencent to contribute to the group’s digitalization, as the company mentioned in a statement on Monday.
The $45 million dollar investment into Tencent will be made through Lippo’s Hong Kong investment subsidiary. It comprises new Tencent shares and equity-linked notes (ELNs), according to the Jakarta Globe.
China’s tech giant, Tencent is the world’s eighth most valuable listed company and owner of leading internet services including WeChat, Snapchat, Spotify, and technology companies such as Tesla.
Last November, its market capitalization passed $500 billion, making it the first Chinese firm to be listed and briefly overtaking Facebook as the world’s fifth biggest firm.
In Indonesia, Lippo’s nine unique sectors are all pushing to digitalise. In addition, it has established a digital investment group to lay strong foundations for the fourth industrial revolution.