Frontier Developments sells 9% of their shares to Tencent
It's a fairly common practice among major companies to put their shares on the market, and Frontier is no different. As of a few days ago, one of the biggest Chinese corporations owns a part of Frontier.
The first major concerns came pouring on reddit claiming that after issuing new shares David Braben no longer holds ownership of over 50% of the company – luckily, Edward Lewis confirmed that that is not the case.
Even though over 3 million new shares were introduced into the pool of already over 37 million – it seems the new transaction will make no changes to how Frontier Development operates.
The investment involving Tencent was worth $23 million and is supposed to be put to good use and further company development.
Hopefully, some of that cash and manpower will go into developing Elite: Dangerous, and not only the new “secret” game based on a major franchise they have mentioned on several occasions.