Prosus to Sell 2% Stake in Tencent, Worth $15.5 Billion
By Adria Calatayud
Prosus NV said Wednesday that it plans to cut its stake in
Tencent Holdings Ltd. to 28.9% from 30.9%, selling shares worth
The Dutch internet conglomerate, a subsidiary of South Africa's
Naspers Ltd., said it intends to sell up to 191.9 million shares in
Tencent. Naspers was one of the Chinese tech giant's earliest
Based on Tencent's closing price on Wednesday, the share sale
would be worth $15.53 billion.
Prosus said the parcel of Tencent shares will be offered to
institutional investors globally, with books expected to close
prior to the Hong Kong opening.
Prosus said the proceeds of the sale will increase its financial
flexibility to invest in growth ventures, and that it has committed
not to sell any further Tencent shares for at least the next three
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires
April 07, 2021 05:27 ET (09:27 GMT)
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