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Shen NANPENG reduced his holdings of 1.38 billion yuan of shares of the three major technology companies, with the largest number of meituan

via:凤凰网科技     time:2021/11/8 12:04:26     readed:109



Phoenix technology news Beijing time on November 8, China's top venture investor Shen NANPENG has stepped up the sale of the three major technology companiesShares of meituan, pinduoduo and delivery platform dada group, a total of 215 million US dollars (about 1.376 billion yuan) was reduced.  

Previously, Shen NANPENG's investment in meituan and pinduoduo helped him win the list of "the best venture capitalist in the world" by Forbes for many consecutive years. He is the most successful venture investor in Asia.His 53 year old net worth is expected to be $4.4 billion.(about 28.16 billion yuan)

"In China's investment community, first Shen NANPENG, and then everyone else."One industry admirer said, "he is the only one who has been a banker, entrepreneur and investor, which gives him an advantage."

Reduction of holdings in three major technology companies

Among the three technology companies, the one with the largest reduction of Shen NANPENG's holdings is meituan, which was fined $530 million last month. According to the documents of the Hong Kong stock exchange, Shen NANPENG first sold $55 million of meituan shares in September, which was Shen NANPENG's largest personal share sale at that time and his second sale of the company's shares since meituan's IPO. Then on October 25, Shen NANPENG reduced his holdings of 2.6746 million meituan shares held through his family investment vehicle, with a trading price of HK $287.13 per share and cash out of HK $768 million (about US $100 million).


Shen NANPENG reduced his holdings of meituan shares the most

Since 2017, Sequoia Capital China fund founded by Shen NANPENG has invested US $370 million in pinduoduo through three rounds of private financing, with an average of $1.22 per share. According to form 144 of the U.S. Securities and Exchange Commission, on September 8 this year, when Shen NANPENG and his family investment vehicles started selling 280000 pinduoduo shares worth nearly $30 million, the share price of pinduoduo was $107. Pinduoduo's share price is now below the peak of $212 hit in February.

Shen NANPENG is currently a director of pinduoduo, and he may continue to hold pinduoduo shares.He has not responded to the sale of shares. Pinduoduo has yet to comment.

According to the 144 table data analyzed by Bradford Lynch levy of the legal evidence analysis laboratory of Wharton Business School, three pinduoduo executives, including Chairman and CEO Chen Lei, also sold the company's shares in September, cashing out about $7 million each. This is the first time that pinduoduo has disclosed the stock sale transaction since its listing in 2018.

"Form 144 data provides the only record of Chinese executives selling shares because the outdated disclosure rules of the U.S. Securities and Exchange Commission for foreign issuers allow foreign executives to effectively hide their transactions from investors," Lynch Levy said.

In addition, Shen NANPENG sold up to $30 million of dada shares in September. (author / Xiao Yu)

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