In largest block trade, Prosus sells 2% of Tencent

www.reuters.com/article/us-prosus-tencent-stake-idUSKBN2BU16P

Holland-based technology investor Prosus NV has sold 2% of Tencent Holdings Ltd (0700.HK) for $14.7 billion, the Chinese gaming and social media giant said on Thursday, in the world’s largest-ever block trade.

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The price was a 5.5% discount to Tencent’s Wednesday close of $HK629.50. The stock, which is up 10% so far this year, opened down 2.5% in Hong Kong following the news on Thursday.

“The proceeds of the sale will increase our financial flexibility, enabling us to invest in the significant growth potential we see across the group, as well as in our own stock,” Prosus Chief Executive Bob van Dijk said in a statement.

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