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The slide continued on Africa s biggest stock exchange on Tuesday morning, with the bourse down over 2% in morning trade, following news of the Chinese tech giant facing a record fine. ....
Naspers unit Prosus to sell Tencent stake worth R218-billion Naspers spin-off, technology investment company Prosus, plans to sell a 2% stake in China’s Tencent, worth about R218-billion at current prices, in an accelerated offering to institutional investors. Prosus, majority owned by Naspers, said the sale would lower its stake in Tencent to 28.9% from 30.9%. The move underlines the size of Prosus’s Tencent stake, which it said it had committed not reduce further in the next three years. “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,” CEO Bob van Dijk said in a statement. ....
Prosus to sell $15bn stake in Tencent By Reuters Share JOHANNESBURG - DUTCH-based technology investment company Prosus plans to sell a 2 percent stake in software giant Tencent, worth about $15 billion (R218 billion) at current prices, in an accelerated offering to institutional investors. Prosus, majority owned by Naspers of South Africa, said the sale would lower its stake in Tencent to 28.9 percent from 30.9 percent. The move underlines the size of Prosus’s Tencent stake, which it said it had committed not to reduce further in the next three years. “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,” chief executive Bob van Dijk said in a statement. ....
1 Min Read AMSTERDAM (Reuters) -Dutch-based technology investment company Prosus NV plans to sell a 2% stake in software giant Tencent, worth about $15 billion at current prices, in an accelerated offering to institutional investors. Prosus, majority owned by Naspers of South Africa, said the sale would lower its stake in Tencent to 28.9% from 30.9%. The move underlines the size of Prosus’s Tencent stake, which it said it had committed not reduce further in the next three years. “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,” CEO Bob van Dijk said in a statement. ....