- Frontier Developments has announced a strategic investment by Tencent Holdings, a leading internet and interactive entertainment company based in China.

Frontier said this would accelerate and improve its access to the growing and already very significant Chinese market.

It said that Tencent had subscribed for 3,386,252 newly issued ordinary shares at 523.2p apiece.

Frontier said the price was based on the volume weighted average price for the last 20 trading days immediately prior to subscription.

It said the new shares represented approximately 9.9% of the issued share capital prior to the issue and 9.0% after the issue of the new shares.

At 8:20am: [LON:FDEV] Frontier Developments Plc share price was +61.5p at 586.5p

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