Tencent's main shareholder Prosus nets $15 billion from record stock sale

By Laura He3 days ago

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Hong Kong (CNN Business)Tencent's biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, and will use the money to invest in other growth ventures.

Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers (NAPRF), sold a 2% stake in Tencent (TCEHY) for HK$114.2 billion ($14.7 billion), the Chinese tech giant said in a Hong Kong Stock Exchange filing on Thursday. Tencent, which reported a strong financial year during the pandemic, is by far Nasper's most successful investment.

The deal is the biggest block trade ever, according to data provider Refinitiv. Block trades are typically arranged directly between big institutional investors rather than on public stock exchanges.

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