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Tencent’s largest investor participated in an epidemic rally.



JOHANNESBURG – The largest shareholder of Tencent Holdings Ltd. sold up to $ 14.7 billion in shares in the Chinese internet and video game giant, using one of the most profitable technology stakes in history. The epidemic has greatly stimulated this sector.

Internet conglomerate Prosus NV said on Wednesday it plans to cut its stake in Tencent to 28.9 percent from 30.9 percent, selling about 192 million shares to increase the financial flexibility to invest in the growing venture. It is also the latest attempt to bridge the persistent gap between the company’s market value and its stake in Tencent.

In 2001, Prosus Naspers Ltd.’s parent company, Africa’s largest listed company, paid $ 34 million for a one-third stake in Tencent before going public.Hong Kong-listed Tencent, the video game company that Largest in the world by revenue and do-it-all app operators, the popular WeChat is now China̵

7;s most valuable publicly listed company with a market capitalization of $ 775.9 billion.

Prosus priced Tencent at $ 595 per share, or $ 76.43, a person familiar with the matter said Thursday morning in Hong Kong. That was the top of the previous session and was a 5.5 percent discount to Tencent’s Wednesday closing price even before the launch of the IPO, investors lined up to buy about three-quarters of the stock, people familiar with the matter said.

Prosus said Tencent understood and supported its intentions.A Tencent spokesperson declined to comment further.


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