Tencent falls nearly 8% after the firm's largest shareholder

Tencent falls nearly 8% after the firm's largest shareholder said it plans to sell $14.6 billion of its holdings


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Tencent falls nearly 8% after the firm's largest shareholder said it plans to sell $14.6 billion of its holdings
Tencent falls nearly 8% after the firm's largest shareholder said it plans to sell $14.6 billion of its holdings
Will DanielApr 8, 2021, 01:59 IST
Ma Huateng, the chief executive officer of Tencent.VCG/Getty Images
The global investment group
Tencent stock.
The deal will increase Prosus's cash reserves from $4.6 billion to roughly $19.2 billion.
Tencent's American ADR has fallen roughly 20% from February 12 highs of nearly $100 per share.
Tencent's American ADR sank as much as 9.7% on Wednesday after the firm's largest shareholder, Prosus, said it plans to sell $14.6 billion worth of its stake in the Chinese multinational technology conglomerate.

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