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

Prosus (PROSY), a spin-off by South African media and internet investment firm Naspers (NAPRF), sold a 2% stake in Tencent (TCEHY) for 114.2 billion Hong Kong dollars ($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.Tencent’s stock dropped 1.5% on Thursday in Hong Kong after the news. It has gained about 80% since Prosus was listed on

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Mexico is the country with the most 'sugar daddies' according to the SeekingArrangement dating app

If you are interested in becoming a 'sugar baby', in Mexico there are about 183,302 'sugar daddies' available, reveal data from SeekingArrangement, the...

Frustrated With a Colleague? Expectations May Be Why.

April 16, 2021 6 min read Opinions expressed by Entrepreneur contributors are their own. I recently...

Squarespace files for a direct listing on the NYSE

Today Squarespace, a well-known software-and-hosting provider for SMB websites, released its S-1 filing. The company is pursuing a direct listing on the New York...