Tencent’s biggest shareholder Prosus plans to sell 2 per cent stake valued at US$15.5 billion as it cashes in on lucrative bet

Prosus, Tencent Holdings’ biggest shareholder, said on Wednesday that it plans to sell a 2 per cent stake in the Chinese social-media juggernaut to fund the expansion of its own online businesses, which have been thriving amid the global outbreak of Covid-19.The company, which is listed in Amsterdam and Johannesburg, will sell up to 191.89 million Tencent shares to global investors through its subsidiary MIH TC Holdings, reducing its stake to 28.9 per cent, it said in a statement.The sale will…

Tencent’s biggest shareholder Prosus plans to sell 2 per cent stake valued at US$15.5 billion as it cashes in on lucrative bet
Prosus, Tencent Holdings’ biggest shareholder, said on Wednesday that it plans to sell a 2 per cent stake in the Chinese social-media juggernaut to fund the expansion of its own online businesses, which have been thriving amid the global outbreak of Covid-19.The company, which is listed in Amsterdam and Johannesburg, will sell up to 191.89 million Tencent shares to global investors through its subsidiary MIH TC Holdings, reducing its stake to 28.9 per cent, it said in a statement.The sale will…