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Prosus sells another chunk of Tencent - TechCentral

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Prosus sells another chunk of Tencent

has continued its selloff of Tencent Holdings, bringing its stake in the Chinese internet giant to under 26%.

The Amsterdam-listed tech investor sold 789 600 ordinary shares of Tencent on Tuesday, lowering its holding to 25.99%, it said in a regulatory filing. Prosus bought its own shares worth €185-million between 17 and 21 April as part of a repurchase programme, according to the statement., an early investor in Tencent through its Cape Town-based parent Naspers, first started its campaign to reduce its holdings in mid-2022 as a way to fund the buyback.

The company has cut its stake in Tencent from 29% in June 2022 in a move that could help it to bridge the gap between its market value and the value of the assets it holds. 2023 Bloomberg LP

Source: Tech Daily Report (techdailyreport.net)

 

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